Monday, April 12, 2010

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.
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2 comments:

  1. AnonymousThursday, April 15, 2010 10:35:00 PM

    This counter good to keep for long term?

    ReplyDelete
  2. Alex LuFriday, April 16, 2010 1:51:00 PM

    Hi 1-million-dollar-blog.com,

    At this moment, I would regard all stocks recommendation as a trading BUY. This is one of them. The reason is the market has gone up a lot over a lengthy epriod and it looks rather toppish now. As such, it is better that we prepare ourselves mentally for a trade, where all stocks are to be held for 1-3 weeks & any gain of 10% must be taken off the table.

    ReplyDelete