Yesterday, SCGM closed higher by 9.0sen at RM1.63 (+5.84%).
Chart-wise, the stock’s trend has turned to a bullish stance since early-December last year.
Yesterday candlestick formed a bullish engulfing candlestick as the stock found support at its 20-Day SMA. With an uptick in key technical indicator and above average trading volume, we believe the more upside can be seen.
Should the share head north, overhead resistance can be found at RM1.70 (R1) and RM1.80 (R2).
Conversely, key support levels are seen at RM1.40 (S1) and RM1.25 (S2)
JHM (Not Rated)
JHM gained 3.0sen to close at RM1.70 (+1.80%) yesterday.
The stock has been on an uptrend since late-August last year.
Yesterday, the candlestick closed higher with the formation of a “Bullish pin-bar”. Given that all key SMAs appear to be healthy supported by above-average trading volume, expect buying momentum to persist.
Should buying interest resume, resistance can be seen at RM1.75 (R1) and RM1.80 (R2).
Conversely, key support levels are seen at RM1.65 (S1) and RM1.60 (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 5905 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!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....