SUNWAY’s share price was up 8sen (2.4%) on higher than average trading volume. Chart-wise, the 50–day SMA has crossed over the 20–day SMA, confirming a Golden Cross. There has also been a recent uptick on all key indicators. The MACD has just crossed over the Signal Line, confirming a buy signal. RSI and Stochastics are also on the uptrend, while RSI is hovering at Overbought levels. Share price has broken out of its short-term resistance level at RM3.33 Should buying interest persist, we expect share price to push towards RM3.61 (R1), followed by RM3.86 (R2).

 

 

Source: Kenanga