AmInvest Research Reports
Stock on Radar - Southern Cable Group (SCGBHD)
AmInvest
Publish date: Thu, 24 Oct 2024, 10:10 AM
AmInvest
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
Southern Cable Group (SCGBHD | 0225)
Last Price: RM0.915 | Technical Call: BUY
| Support 1: RM0.91 | Resistance 1: RM1.00 |
| Support 2: RM0.82 | Resistance 2: RM1.06 |
| Shariah Compliant: Yes | Sector: Industrial |
Southern Cable Group may trend higher after it closed above the RM0.91 resistance albeit marginally yesterday. As its 20-day and 50-day EMAs are converging now and are likely to turn up in the near term, additional upside strength may be present in the near term. A bullish bias may emerge above the RM0.91 level with stop-loss set at RM0.81, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM1.00, followed by RM1.06.
Entry: RM0.91-0.915
Target: RM1.00, RM1.06
Exit: RM0.81
Source: AmInvest Research - 24 Oct 2024
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