Sunway Construction is attempting to continue the bullish movement after staging a breakout upon the resistance. The stock has managed to close above the MYR4.40 resistance, confirming the bullish setup is in play. Meanwhile, we observed the 21-day SMA line moving upwards, echoing that the shortterm trend is bullish. We expect a follow-through price action to test the next resistance at MYR4.80, followed by MYR5.20. On the flipside, if it falls below the MYR4.05 support, the counter will resume the correction phase.

Source: RHB Securities Research - 10 Oct 2024