Suncity may have a bullish breakout

Suncity may be commencing on its upleg soon. It has just surpassed its recent high of RM3.50 recorded in August last year. The last time Suncity consolidated sideway for a prolonged period & then broke to the upside was in 2006. From the breakout level of RM1.90 (in November 2006), Suncity rallied to a high of RM5.85 (in October 2007). Can Suncity repeat the same performance with the current breakout? Let's wait & see.


Chart: Suncity's weekly chart as at Apr 5, 2010_11.15am (Source: Quickcharts)

Based on the above technical breakout, Suncity could be a good trading BUY.