Southern Cable Group Bhd (SCGBHD, 0225)

• SCGBHD is set to resume its uptrend after it pushed above the RM0.395 resistance which also coincides with a new 52-week high. The stock also broke out from the 2-month downward channel pattern a few candles back, it may see additional strength in the coming sessions.

• We expect the rising momentum to steer the stock higher and test the next level of resistance at RM0.45 (R1) and RM0.50 (R2) in the near term.

• On the downside, stop-loss is set at RM0.35, below the 50-day EMA.

Source: Rakuten Research - 21 Dec 2023

To sign up for an account : http://bit.ly/40BNqKI

[Youtube Tutorial] Account Opening & Enable Foreign Equity:http://bit.ly/3I5Jzxo