Sunview Group Berhad (SUNVIEW, 0262)

• Share price closed 11.19% higher at RM0.745 on Thursday.

• SUNVIEW share price has been in correction since hitting the high of RM0.90 in April and formed a  support at RM0.655. Decent buying interest was seen yesterday before breaking its resistance level  twice at RM0.705 and RM0.73. Coupled with bullish MACD crossover and indicators showing uptick  momentum, share price is expected to move higher.

• Resistance levels are identified at RM0.78 (R1) and RM0.80 (R2).

• On the flipside, support levels are pegged at RM0.655 (S1) and RM0.515 (S2).

Source: Rakuten Research - 19 May 2023

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