Possible for sideways breakout. SUNWAY-WB is potentially staging a breakout from its sideways channel, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.300 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.325. Note that the maturity date of SUNWAY-WB is on 3 Oct 2024.
However, failure to hold on to support level of RM0.275 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 8 Nov 2022