Sunway Construction poised for a potential breakout, says Public IB Research

KUALA LUMPUR (Jan 27): Public IB Research said that squeezing into an ascending triangle for the past 3 months, Sunway Construction Group Bhd is poised for a potential breakout into new high territories as both bullish relative strength index and MACD indicators signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in the near term.

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MRT 2 major awards in the offing

Construction sector Maintain “overweight”: The Edge weekly reported that IJM Corp Bhd, Sunway Construction Group Bhd (SunCon) and Gadang Holdings Bhd are among the leading contenders for major work packages under the mass rapid transit (MRT) 2 line.

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