Sunway has been sold down during the last few sessions.It has become oversold. As a hammer pattern formed in the latest session, it may rebound in the coming session if it breaks above the resistance price of RM1.70. If this happens, the short-term target price will be RM1.82 and RM1.94. Support is anticipated at RM1.58, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.70

Target: RM1.82, RM1.94 (time frame: 3-6 weeks)

Exit: RM1.58

Source: AmInvest Research - 8 May 2019