Rakuten Trade Research Reports

Technical View - SCGM Bhd (SCGM, 7247)

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Publish date: Wed, 19 Feb 2020, 05:26 PM
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SCGM Bhd (7247)

• SCGM fell 0.03 or 1.86% to RM1.58 yesterday.

• Chart-wise, it is forming a new base and remains firmly on a long term up-trend channel.

• Yesterday’s slight pullback could be a good entry as it is likely to move higher to the RM1.80 level.

• From here, resistance levels are expected at RM1.70 (R1) and further to RM1.80 (R2).

• Conversely, downside support levels are expected at RM1.50 (S1) and RM1.40 (S2).

Source: Rakuten Research - 19 Feb 2020

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