RHB Retail Research
Trading Stocks - Scientex
Scientex has risen above the 21-day SMA line, testing the immediate resistance level marked at MYR12.50. We notice the stock has been moving sideways since mid-October. If it crosses the resistance, we expect it to resume the uptrend and move higher to test the next resistance level at MYR13.00, followed by MYR13.80. This positive expectation should remain valid, provided the MYR11.60 support is not breached.
Source: RHB Securities Research - 29 Dec 2020
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