Scomi's share price has certainly been upbeat in recent months, what with IJM coming into the picture. Hope stems that Scomi will be better run, and more contracts to be secured though these plans are not without
its headwinds. Since its recent high of 44.5 sen last month the share price had retreated to the 50-day SMA at 38 sen. On Wednesday, however, the share price was given a new lease of life with a 2.5 sen intraday surge before ending the day up 1.5 sen at 39.5 sen. Trading volumes were marginally higher, and the 14-day Stochastic indicator was seen hooking up from oversold levels. The RSI was equally as buoyant and it managed to intersect the neutral 50-mark to enter the bullish territory. We reckon that Scomi is among the stocks to keep a keen lookout for in the coming days, and should the bullish momentum continue, the share could potentially retest the 44.5 sen high.

Source: Kenanga