SCGM

Sector: Industrial products/ Packaging materials

Analyzed on 12/12/2021

Despite the generally bearish sentiment in the month of Oct – Nov in the KLSE, SCGM has held up quite well as compared to others. SCGM’s uptrend is still intact as shown by the upward trending EMA25 and 50. Recent peak is at RM2.83 and closes at RM2.61 on last Friday, but still maintained well above its EMA25/50. Based on historical price pattern, EMA50 is a strong support for SCGM where it forms higher lows. Traders could capitalize on its support level to profit from some swing trades. We anticipate SCGM to test its immediate resistance of RM2.64 before challenging its recent peak. RSI is also currently at a medium level. 

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NOTT INVEST 

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