Sunway may have a bullish breakout

Sunway has broken its medium-term downtrend line at RM1.37. If it can also surpass its immediate horizontal resistance at RM1.40, a strong rally may unfold.


Chart 1: Sunway's daily chart as at Jan 12, 2010_9.35am (Source: Quickcharts)

Sunway-WC has also surpassed its horizontal resistance at RM0.47.


Chart 2: Sunway-WC's daily chart as at Jan 12, 2010_9.35am (Source: Quickcharts)

Based on the above, I believe Sunway & Sunway-WC looks set to go higher.