SCICOM is up by 8.0 sen (+3.9%) to close at RM2.13 with a spike in trading volume observed. Despite a 3-month rally in the share price, the bulls are still going steady with a strong breakout observed at the RM2.08 level with price still trending above its 3 key SMAs. MACD is also seen diverging positively from the Signal line, highlighting the positive trend for the stock. In addition to that, RSI indicator has also hooked upwards indicating robust buying momentum. Its share price is entering into uncharted territory post its breakout and immediate resistance is capped at RM2.41 (R1). Should the rally continue, it could test the RM2.61 (R1) level.

 

 

Source: Kenanga