Sunway climbed and tested the RM1.71 resistance level with higher trading volume. With its 21-day moving average indicator in an uptrend, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM1.77 and RM1.81. The downside support is projected at RM1.62. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.71

Target: RM1.77, RM1.81 (time frame: 2-4 weeks)

Exit: RM1.62

Source: AmInvest Research - 15 Apr 2021