SCIENTEX (SCIENTX | 4731)
Last Price: RM4.65 | Technical Call: BUY
Support 1: RM4.55 | Resistance 1: RM5.00 |
Support 2: RM4.34 | Resistance 2: RM5.20 |
Shariah Compliant: Yes | Sector: Industrial |
SCIENTEX posted 3 positive candles in a row and hit a new 52-week high yesterday, likely indicating the return of buying interest. With the 20-day EMA remaining above the 50-day EMA since the bullish crossover in early October, the uptrend may persist in the near term. A bullish bias may emerge above the RM4.55 level with stop-loss set at RM4.32, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM5.00, followed by RM5.20.
Entry: RM4.55-4.65
Target: RM5.00, RM5.20
Exit: RM4.32
Source: AmInvest Research - 6 Nov 2024
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Created by AmInvest | Nov 01, 2024