Sunway Real Estate Investment Trust (SUNREIT, 5176)

• Share price closed 0.7% higher at RM1.45 on Friday.

• SUNREIT broke out from the consolidation phase with higher volume. It is also trading above all its key moving averages which are trending upward.

• There is also a formation of golden crossover in MACD indicator, signalling a buying signal. Backed by uptick in its indicators, the share price is poised to move higher.

• Resistance levels are identified at RM1.48 (R1) and RM1.55 (R2).

• On the flipside, support levels are pegged at RM1.44 (S1) and RM1.39 (S2).

Source: Rakuten Research - 29 Nov 2021