Sunway’s upside move may persist after the stock hit its highest close in more than three months. This can be viewed as a continuation of the bulls extending the upward momentum from 27 Dec 2018’s upside gap. A bullish bias may emerge above the MYR1.48 level, with an exit set below the MYR1.42 threshold. Towards the upside, the immediate resistance is at MYR1.55. This is followed by the MYR1.58 level.

Source: RHB Securities Research - 4 Jan 2019