Scicom (MSC) Bhd (code: 0099) made a convincing breach of the uppermost 100-day simple moving average (SMA) yesterday, indicating that it has entered a new, higher leg of trading.
The share price growth over the last two trading sessions have retraced all the losses made during a recent decline and put the stock in position to resume its rally.
The short-term 14- and 21-day SMAs are now turning higher, offering some lift to the share price. Some further share price gains could turn the 50-day SMA higher towards the 200-day SMA, a crossing of which would strengthen the price chart outlook.
Investor interest in the counter, meanwhile, has grown to a three-month high as a positive lead triggers buying in the stock.
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