SCIENTX is undergoing a mild-correction now as the share price has retreated by 6.7% since 11 June 2013. Technically, the chart looks forming a “flag” pattern with an immediate support level likely to be at RM4.70. As the key indicator has yet to show any major sign of improvement, we suspect the share price may potentially look for a near-term support level before reversing upwards to RM5.49 and possibly RM6.00 next. Meanwhile, the downside appears limited with a support at RM4.70.

 

Source: Kenanga