Yesterday, SCICOM rose 5.5 sen (+5.80%) to close at RM1.01.
Chart-wise, the share has been trending upwards since bouncing off its 100-day SMA. Yesterday’s candlestick formed a long bullish candlestick on exceptional volume, and we believe the share could head higher.
Key SMAs have recently started to trend upwards with all shorter-term SMAs above longer-term SMAs which could be a signal of a change in trend.
We look towards resistance levels at RM1.06 (R1) and RM1.15 (R2). Conversely, support levels can be identified at RM0.950 (S1) and RM0.905 (S2).
BJFOOD (Not Rated)
BJFOOD gained 4.0 sen (+2.70%) to end at RM1.52 yesterday.
Chart-wise the share trended above all key SMAs since mid-October.
Yesterday candlestick gapped up and punched through the 50-Day SMA, which signified strong buying interest. Given the uptick in RSI and the bullish MACD crossover, we believe the share could rally further.
Should the share head north, key resistance levels can be seen at RM1.62 (R1) and RM1.78 (R2)
Conversely, downside supports can be identified at RM1.40 (S1) and RM1.28 (S2)
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 6072 views | 5 d ago
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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