AmInvest Research Reports
Stock on Radar - Southern Cable Group (SCGBHD)
AmInvest
Publish date: Tue, 10 Dec 2024, 10:09 AM
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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: RM1.11 | Technical Call: BUY
| Support 1: RM1.07 | Resistance 1: RM1.20 |
| Support 2: RM1.00 | Resistance 2: RM1.30 |
| Shariah Compliant: Yes | Sector: Industrial |
Southern Cable Group may trend higher after it surged to a new historical high and closed above the RM1.07 resistance 2 sessions ago. As the 20-day and 50-day EMAs have established their bullish crossover since late October, the stock looks positive in the near term. A bullish bias may emerge above the RM1.07 level with stop-loss set at RM0.99, below the 20-day
EMA. Towards the upside, near-term resistance level is seen at RM1.20, followed by RM1.30.
Entry: RM1.07-1.11
Target: RM1.20, RM1.30
Exit: RM0.99
Source: AmInvest Research - 10 Dec 2024
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