Rakuten Trade Research Reports
Technical View - SCGM Bhd (SCGM, 7247)
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Publish date: Tue, 31 Mar 2020, 10:35 AM
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All materials published here are prepared by Rakuten Trade. For latest offers on Rakuten Trade products and news, please refer to: https://www.rakutentrade.my/
To sign up for an account: http://bit.ly/40BNqKI
Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
SCGM Bhd (7247)
• SCGM surged 28.0% or 30 sen to RM1.37 yesterday.
• Share price broke its key 200-day simple moving average line on the back of the huge jump in trading volume, indicating strong buying momentum. MACD has also turned positive recently and share price is likely to move higher.
• From here, resistance levels are seen at RM1.46 (R1) and further to RM1.60 (R2)
• Conversely, support levels are identified at RM1.22 (S1) and RM1.11 (S2).
Source: Rakuten Research - 31 Mar 2020
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