Sunway may trend higher after it surged to a new record high and closed above the RM3.60 resistance 2 sessions ago. As the stock also broke out of the 2-month bullish ascending triangle pattern, it may see additional strength in the near term. A bullish bias may emerge above the RM3.60 level with stop-loss set at RM3.32, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM4.00, followed by RM4.20.
Entry : RM3.60–3.75
Target : RM4.00, RM4.20
Exit : RM3.32
Source: AmInvest Research - 24 May 2024
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SUNWAYCreated by AmInvest | Oct 01, 2024