SCGM

Sector: Industrial products/ Packaging materials

Analyzed on 31/10/2021

This is the SCGM weekly chart. Since SCGM found support at RM1.75 in March, the chart has been on the road of steady recovery with visible higher lows forming. SCGM is currently trading at RM2.61, with immediate support at EMA25/50 while immediate resistance at RM2.64. Note that both EMA25 and EMA50 are sloping upwards showing that SCGM is currently on a mid-term uptrend. However, the weekly traded volume is rather low as compared to previous.

As SCGM is trading near resistance, investors who are interested may need to either wait for breakout confirmation or retrace to EMA25/50 supports.

Reason to Monitor: Potential Breakout

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