KUALA LUMPUR (Sept 13): RHB Retail Research said Sunway Construction Group Bhd is poised to propel north after it bounced off the 21-day average line, and headed towards the immediate resistance level of RM1.58 on Monday (Sept 12), on surging trading volume.

In a trading stocks note on Tuesday, the research house said that if a breakout happens above that level, the bullish bias above that level may see the stock climb further towards RM1.64, followed by RM1.69, which was the high of June 1.

“However, the counter may reverse direction if it falls below the RM1.49 support, as it trades below the average line while forming a 'lower low' bearish structure,” it said.