• SCGM closed 5.8% or 9 sen higher to RM1.63 yesterday
• Technically, the stock remains on a long uptrend cycle, yesterday’s price movements saw a bullish breakout to hit a 52- week intraday high of RM1.64. • With share price trading above key moving averages, we expect share price to head towards RM1.90 level.
• From here, resistance levels are expected at RM1.70 (R1) and further to RM1.90 (R2).
• Conversely, downside support levels can be identified at RM1.43 (S1) and RM1.30 (S2).
Source: Rakuten Research - 3 Jan 2020
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SCGMCreated by rakutentrade | Jul 18, 2024