Sunway may rebound further after it tested the MYR1.71 support in recent sessions. Given that the stock has formed a “Bullish Engulfing” pattern on 4 Mar, this indicates a potential rebound. A positive bias may emerge above the MYR1.75 level, with an exit set below the MYR1.71 threshold. Towards the upside, the immediate resistance is at the MYR1.83 mark. This is followed by the MYR1.87 level.
Source: RHB Securities Research - 9 Mar 2020
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SUNWAYCreated by rhboskres | Aug 26, 2024