Sunway REIT poised to renew uptrend, says RHB Retail Analysis

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KUALA LUMPUR (June 20): RHB Retail Analysis mentioned Sunway REIT is poised to renew its uptrend because it rebounded from a current pullback, surpassing the 21-day common line final Friday – printing a “White Marubozu” bullish candlestick.

In a buying and selling shares observe at the moment, the analysis home mentioned this, coupled with its above 30-day common buying and selling quantity, the inventory might push above the instant resistance of RM1.58.

“If that occurs, a bullish bias might emerge above that time to propel the inventory increased in the direction of RM1.62 – March 27, 2020’s excessive, adopted by RM1.65, Sept 14, 2020’s excessive.

“If it falls beneath the help stage of RM1.49, the inventory might pattern downwards, forming a “decrease low” bearish sample,” it mentioned.

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