Mar 11, 2013


Sunway MYR2.79 Stock code 5211

below: Sunway daily chart (click to enlarge):
sunway analysis

SUNWAY made a major weekly Wave 2 low of MYR2.25 (Jan 2013) with grossly oversold and bullish signals. Its positive indicators above suggest a strong upside  move. It is likely break into higher territory, as it breached its key resistance areas recently in a firm Wave 3 and Wave 5 move.

SHORT-TERM BUY (TECHNICAL) on dips for SUNWAY, with firmer support areas at MYR2.57 and MYR2.79. The upside target areas for the stock are at MYR2.93, MYR3.31 and MYR3.80. Stop-loss is at MYR2.55.

Sunway Berhad (SUNWAY) is a property development and construction company. Its other business divisions include quarrying and building materials trading and manufacturing, hospitality, leisure and healthcare.

by Maybak IB