Sunway may trend higher after it surged to a new 52-week high and closed above the RM1.80 resistance a few sessions ago. As the 20-day and 50-day EMAs have established their bullish crossover since early-July, the current bullish momentum may continue in the near term. A bullish bias may emerge above the RM1.80 level, with a stop-loss set at RM1.72, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM2.10, followed by RM2.20.

Entry : RM1.80–1.92

Target : RM2.10, RM2.20

Exit : RM1.72

Source: AmInvest Research - 21 Aug 2023