Sunway is poised to propel northwards after rebounding from the 21-day SMA line during the final trading session of 2023 last Friday – eyeing to retest the MYR2.07 immediate resistance level. If a breakout occurs, the stock will likely advance towards a new high level at MYR2.20, followed by MYR2.30. Conversely, a drop below the MYR2 support would invalidate the bullish setup, falling below the 21-day SMA line.
Source: RHB Securities Research - 2 Jan 2024
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SUNWAYCreated by rhbinvest | Jul 03, 2024