Sunway Construction Group Bhd
, which has been trading sideways over the last three weeks, is showing early signs of bullish momentum to break free of the range-bound movement.Yesterday, the share peaked above the 14-day simple moving average (SMA), as the technical indicators showed growing positive momentum.
The slow-stochastic is at 46 points, advancing towards the 50-point mark, while the 14-day relative strength index (RSI) is robust at 70 points.In the event of a breach of the recent RM2.28 high, the share could take off towards a higher resistance of RM2.64.
Support for the share is found at RM2.15 and RM2.
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