RHB Retail Research
Technical Analysis - SCGM
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SCGM may rise higher after forming a white candle for a second consecutive day. This can be viewed as a continuation of the bulls extending the rebound from 31 May’s “Bullish Engulfing” pattern. A bullish bias may emerge above the MYR1.80 level, with an exit set below the MYR1.59 threshold. Towards the upside, the immediate resistance is at MYR2.00. This is followed by the MYR2.22 level.
Source: RHB Securities Research - 20 Jun 2018
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