Sunway has a bullish breakout

Sunway has broken above its strong horizontal resistance at RM1.55-60. The next resistance is at RM1.80 & thereafter at RM2.00.


Chart 1: Sunway's weekly chart as at April 12, 2010_10.00am (Source: Quickcharts)

For those who like to a speculative play, you can consider Sunway-WC. The main terms are:

Expiry Date: March 4, 2014
Exercise Price: RM1.30

At the current price of RM0.63 (share price of RM1.64), Sunway-WC has a premium of 17.7%. That's a bit on the high side. From the chart below, we can see that the warrant is testing its slopping line resistance at RM0.62-63.


Chart 2: Sunway-WC's daily chart as at April 12, 2010_10.20am (Source: Quickcharts)

Based on the bullish breakout, Sunway could be a good trading BUY.