SCIENTX is back to the limelight again after we initiated coverage on the stock a few days ago. After a breakout from a one-month congestion zone, the share price has violated the long-term triangle resistance @RM5.60 region before closing at RM5.69 yesterday, indicating a potential new uptrend could be in the making. Furthermore, key indicators remain strong and positively biased despite low trading volume. Should the share price overcome the previous high @RM5.94, we believe SCIENTX may resume another round of bullish rally towards RM6.51 in the mid-to-long term. Meanwhile, the crucial support is pegged at RM5.36 (Fibonacci support). 

 

Source: Kenanga