Technical Stockpick - Sunway Construction Group Bhd
Fri, 22-Nov-2024 07:19 am
by Amir Hamdan • Apex Research

SUNCON (5263)
Last Price (RM)
4.430
Resistance (RM)
R1 — 4.900 / R2 — 5.110
Support (RM)
S1 — 4.160

Technical Commentary: 

Price has turned into a consolidation pattern since peaking in July 2024 and largely supported above EMA120. Trading range appears to have narrowed in recent weeks as the consolidation tightens. For now, traders may monitor for a potential breakout above RM4.64 to target the next resistances located at RM5.13 RM5.71. Downside wise, support is pegged at RM4.16.

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.449296 4.484012
EUR 4.692599 4.701308
CNY 0.615732 0.616932
HKD 0.571606 0.576092
SGD 3.310067 3.336427