Sunway has been consolidating sideways during the last few sessions, with an immediate resistance at RM1.71. With an RSI above 50%, it may break the resistance level. If this happens, the short-term target price is at RM1.81, followed by RM1.88. In this case, support is anticipated at RM1.64, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon continuation above RM1.71

Target: RM1.81, RM1.88 (time frame: 3-6 weeks)

Exit: RM1.64

Source: AmInvest Research - 27 Jun 2019