RHB Retail Research: SCGM breaks resistance signals uptrend extension

RHB Retail Research says SCGM Berhad attempted to break away from its 1-week minor consolidation phase yesterday.

In a trading note, the research house says towards the upside, a breach of the MYR2.04 resistance can be regarded as an uptrend extension signal.

“The following resistance levels are at MYR2.15, followed by MYR2.25. A stop-loss can be set below MYR1.98,” it says.


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