Sunway REIT set to propel northwards, says RHB Retail Research
KUALA LUMPUR (April 29): RHB Retail Research said Sunway Real Estate Investment Trust is set to propel northwards, after experiencing a technical breakout above RM1.42 yesterday – coupled with strong volume.
In a trading stocks note today, the research house said the “higher high” bullish pattern that emerged yesterday may cause the stock to jump further towards hitting RM1.50, followed by the RM1.56 resistance.
“However, the positive momentum may dissipate if it falls below the RM1.38 support as it could form a “lower low” bearish pattern,” it said.
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