Sunway Construction Group posted 2 white candles in a row and hit a new multi-year high yesterday, likely indicating the return of buying interest. The stock’s move above the RM2.80 resistance coupled with its rising EMAs, indicates that the near term upward momentum may persist. A bullish bias may emerge above the RM2.80 level, with a stop-loss set at RM2.68, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM3.30, followed by RM3.50.

Entry : RM2.80–2.97

Target : RM3.30, RM3.50

Exit : RM2.68

Source: AmInvest Research - 26 Mar 2024