ShareWorldConsulting

{SWC}——SCICOM, able to maintain the momentum?

Long
MYX:SCICOM   SCICOM (MSC) BHD
Thank you for your continued support :)

Strategy: Bollinger Band Strategy

Bias: Bullish . Scicom share price rebounded from Bollinger Lower Band. In addition, based on candlestick pattern, it showed bullish engulfing formation.
According to Bollinger Bands Strategy, when a stock price hitting the BB low band, it will potentially raise back to Bollinger Mid Band. When momentum continues, it will challenge the Upper Band.

Thus, the immediate resistance is the mid band which representing 20MA, RM1.20.
SWC expects a positive movement in near term. Kindly take nota that, a small resistance (RM1.25) will be faced before looking for a higher resistance zone of RM1.28.

Resistance, RM1.20, RM1.28
Support: RM1.12

Please like and share with your friend if you like our idea.
Trade closed: target reached: Reached resistance of RM1.20, bollinger band mid band zone :)
Congrats and thank you for your continued support :)