Sunway is attempting to break away from its consolidation zone. Observe that trading volume has increased recently – this shows buying interest is gaining traction. If it manages to surpass the MYR1.77 immediate resistance, the bullish momentum will propel it towards the next resistance at MYR1.90, followed by MYR2.00. If the stock falls below the MYR1.69 support, this expectation would be nullified.
Source: RHB Securities Research - 19 Jul 2021
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SUNWAYCreated by rhboskres | Aug 26, 2024