Rakuten Trade Research Reports
Technical View - SCGM Bhd (SCGM, 7247)
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Publish date: Wed, 22 Apr 2020, 04:34 PM
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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 closed 2.2% or 3 sen higher to RM1.37 yesterday.
• Share price has crossed the 200-day moving averages on the back of higher-than-average trading volume. This indicates continued buying interest on the stock and is set to resume its upward trend possibly breaking new high.
• From here, resistance levels are seen at RM1.46 (R1) and further to RM1.60 (R2)
• On the downside, support levels are expected at RM1.22 (S1) and RM1.11 (S2).
Source: Rakuten Research - 22 Apr 2020
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