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SUNWAY CONSTRUCTION GROUP BERHADSUNWAY CONSTRUCTION GROUP BERHADSUNWAY CONSTRUCTION GROUP BERHAD

SUNWAY CONSTRUCTION GROUP BERHAD

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SUNCON trade ideas

SUNWAY CONSTRUCTION GROUP BERHAD Recently, the stock appears to be rebounding from the lower levels (around MYR4.00), currently trading at MYR4.19. The current rebound shows the price nearing the middle band (which typically represents the 20-period moving average). Support is observed around the MYR4.00 level, where the price has rebounded recently. Resistance is likely to be around MYR4.40 to MYR4.50, the region of the middle Bollinger Band and the moving average. Strong resistance is also seen at MYR5.20, the high from late July. The stock is currently in a recovery phase after a significant correction. A break above the 50-day moving average and the middle Bollinger Band could signal further upside potential. However, the low volume during this rebound suggests caution. Traders may want to wait for a confirmation of increased volume and a solid break above key resistance levels for a stronger bullish signal.
MYX:SUNCONLong
by Sahrin
SUNCON - Pre Consolidation BreakoutNO INVESTMENT ADVICE IS PROVIDED DISCLAIMER Please consider your own interpretation of Opportunity & Risk. The author of this post strictly follows the Malaysian Security Commission ( SC ) Guidelines on the prohibition of Investment Advice by unlicensed parties. Any examples shall use historical charts without any recommendations and not to cause inducement to the public to take action or position (e.g. buy, sell or hold) regarding a particular class, sector, or instrument in relation to securities or derivatives. The author will never provide any investment or trading advice as the activity of giving investment advice is likely to be considered as a regulated activity under the Capital Markets and Services Act 2007 ( CMSA ). All posts made in Tradingview do not include any communications involving providing recommendations or opinions or includes any material, content or any statement which are likely to induce a person to take any action or position (e.g. buy, sell or hold) regarding a particular class, sector, or instrument in relation to securities or derivatives that is likely to be considered as “advising others concerning securities or derivatives”. The author will not recklessly make any statement, promise or forecast that is misleading, false or deceptive to induce or attempt to induce another person to deal in securities or derivatives. None of information posted in post can be used as investment decisions. Do not trade solely on the information posted. Trade at your own risk and judgement. A trader could potentially lose all money. Only risk capital that can be lost without jeopardizing ones financial security of lifestyle. Please seek licensed professional guidance if you plan to invest your capital seriously.
MYX:SUNCONLong
by AMTechAnalysis