Sunway Construction Group (SUNCON | 5263)

Last Price: RM4.72 | Technical Call: BUY

Sunway Construction Group may trend higher after it formed a long positive candle and closed above the RM4.60 resistance on Friday. In view that the 20-day and 50-day EMAs are starting to turn upwards, a positive outlook can be expected here. A bullish bias may emerge above the RM4.60 level with stop-loss set at RM4.23, below the 2 Dec low. Towards the upside, near-term resistance level is seen at RM5.10, followed by RM5.30.

Entry: RM4.60-4.72

Target: RM5.10, RM5.30

Exit: RM4.23

Source: AmInvest Research - 23 Dec 2024