Sunway Real Estate Investment Trust is set to propel northwards, after experiencing a technical breakout above MYR1.42 yesterday – coupled with strong volume. The “higher high” bullish pattern that emerged yesterday may cause the stock to jump further towards hitting MYR1.50, followed by the MYR1.56 resistance. However, the positive momentum may dissipate if it falls below the MYR1.38 support as it could form a “lower low” bearish pattern.

Source: RHB Securities Research - 29 Apr 2022