We expect further upside for Sunway after posting another white candle and closing near its multi-year high on Friday. As the stock also broke out of a bullish flag pattern, it may see additional strength in the near term. A bullish bias may emerge above the RM2.25 level, with stop-loss set at RM2.08, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM2.50, followed by RM2.70.

Entry : RM2.25–2.35

Target : RM2.50, RM2.70

Exit : RM2.08

Source: AmInvest Research - 15 Jan 2024