AmInvest Research Reports
Stock on Radar - Sunway
AmInvest
Publish date: Wed, 24 Jul 2024, 09:03 AM
AmInvest
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
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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