KUALA LUMPUR (April 29): RHB Retail Research said Sunway Real Estate Investment Trust (REIT) is set to propel northwards after experiencing a technical breakout above RM1.42 on Thursday, coupled with strong volume.

In a trading stocks note on Friday (April 29), the research house said the “higher high” bullish pattern that emerged on Thursday may cause the stock to jump further towards hitting RM1.50, followed by the RM1.56 resistance.

“However, the positive momentum may dissipate if it falls below the RM1.38 support as it could form a 'lower low' bearish pattern,” it said.