Rakuten Trade Research Reports

Technical View - Sarawak Consolidated Industries Bhd

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Publish date: Tue, 13 Apr 2021, 05:18 PM
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Sarawak Consolidated Industries Bhd (SCIB, 9237)

• SCIB closed 3.4% or 6 sen higher to RM1.84 yesterday.

• SCIB formed a positive breakout recently following a period of sideways movement on improving trading volume. With key indicator RSI pointing upwards which implying stronger buying momentum, we expect share price to trend higher.

• Resistance levels are projected at RM1.96 (R1) and further to RM2.05 (R2).

• For downside support, support levels are identified at RM1.68 (S1) and RM1.64 (S2).

Source: Rakuten Research - 13 Apr 2021

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