Sunway may trend higher after it surged to a new historical high and closed above the RM4.20 resistance yesterday. The stock also broke out from a 2-week bullish pennant pattern, likely indicating that the near-term upward momentum may persist. A bullish bias may emerge above the RM4.20 level with stop-loss set at RM3.88, below the 10 Jul low. Towards the upside, near-term resistance level is seen at RM4.50, followed by RM5.00.
Entry : RM4.20–4.28
Target : RM4.50, RM5.00
Exit : RM3.88
Source: AmInvest Research - 24 Jul 2024
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SUNWAYCreated by AmInvest | Jul 24, 2024
Created by AmInvest | Jul 24, 2024
Created by AmInvest | Jul 22, 2024