Scicom (MSC) is poised to propel upwards further, as it bounced off the 21-day average line yesterday while hitting the immediate resistance of MYR1.26, underpinned by strong volume. If it manages to breach that level – printing a “higher high” bullish pattern – the stock is likely to reclaim the next resistance level of MYR1.34, before possibly hitting MYR1.39, ie its 52-week high. Conversely, falling below the MYR1.18 support will trigger selling pressure and reverse the momentum, beneath the 21-day SMA line.

Source: RHB Securities Research - 2 Mar 2022