The recent redesignation of chairman of SCIB had effectively reignited investors’ interest into the company. At the current juncture, a strong RM0.130 support was found following the announcement of new redesignation of the board. Both the MACD and RSI indicator are showing positive momentum, however somehow blocked by the key RM0.150 resistance. Should volume increase and breakout from RM0.150 level happens, we expect a new wave of upcycle to RM0.170 level, representing good trading opportunities for both investors and traders.
SP1: RM0.130
R1: RM0.150
TP: RM0.170