SCGM

Sector: Industrial products

With record high Covid-19 daily cases in Malaysia, the Bursa market sentiment has been bearish recently. As such, SCGM has retraced below its EMA25/50 briefly before rebounding last week. Its EMA 25/50 serve as its support level while immediate resistance is at recent high of RM2.60 region. Since its EMA 25/50 golden cross, the share price has been extending and retracing with higher highs and higher lows pattern. Note that one lower high was observed recently, worth to exercise cautious amid the weak market sentiment.  

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