Sunway Construction Group broke out from its 2-week bullish flag pattern a few candles back, implying that its previous uptrend may have resumed. With the 20-day EMA remaining above the 50-day EMA since the bullish crossover in early Jan, the uptrend may continue in the near term. A bullish bias may emerge above the RM1.75 level, with a stop-loss set at RM1.65, below the 50- day EMA. Towards the upside, the near-term resistance level is seen at RM1.90, followed by RM2.00.

Entry : RM1.75–1.78

Target : RM1.90, RM2.00

Exit : RM1.65

Source: AmInvest Research - 5 May 2023