Sunway is continuing its upside movement after climbing above the resistance level on strong volume.
RHB Retail Research (RHB) in a note today (Aug 14) said the stock managed to break past the MYR4 resistance level to confirm a bullish setup.
Meanwhile, trading volume has been increasing in tandem with the share price, showing that the underlying momentum is bullish.
Premised on the renewed momentum, the stock may
travel towards MYR4.50, followed by MYR5.
If it falls below the MYR3.50 support level, the bullish setup will be negated.
Binastra is setto resume upside movement after staging a bullish breakout.
The counter has crossed above the 21-day SMA line to
close above the MYR1.25 resistance level.
They observed that the moving average line is curving upwards, suggesting that the short-term trend is bullish.
The momentum should propel the counter towards the next resistance at MYR1.36, followed by the one at MYR1.50.
On the downside, a fall below the MYR1.10 support level would kick off a correction phase.
