SUNWAY stock code 4308

As previously mentioned in this blog (read here: Sunway)
"Any rebound now is a buy signal but I think i will correct a little more to to within 1.25 zone. That's the likely zone to rebound"
It did rebound at 1.28.

"Believe so the correction phase is over and now heading to 1.60"
It rose to to 1.60 and now in a profit taking phase.
Believe so the current profit taking will be mild, short and sweet. Expecting it to break over 1.60 A few weeks bullish mode expected soon.
Other info : http://biz.thestar.com.my/sunway
Other technical analysis: http://klse-online.blogspot.com/sunway
Below: Sunway Holding Bhd (click to enlarge)

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Sunway updates

 SUNWAY  stock code : 4308 sector: construction
Previously:
1. The uptrend from Nov 08 to early Aug 09 already corrected to 38% (also a significant Fibonacci level).  Believe so the correction phase is over and now heading to 1.60
2. Micro double-bottom pattern with higher low.
3.  Vital support at 1.16 zone. (also a signal zone - if collapsed then forget it)
4. Expecting strong resistance at RM1.60. A strong breakout needed first for higher target
Last few 'down' days could give good entry price. Reversal from this few down days is a bullish signal. Important for 1.16 support to hold. For early warning watch any weakness in the 1.22-1.20 price zone.
UPDATES:
As mentioned in previous stock highlight, it's  true 1.60 is a strong resistance, the price went to 1.55 and start correction.
Any rebound now is a buy signal but I think i will correct a little more to to within 1.25 zone. That's the likely zone to rebound.
click to enlarge : Sunway daily chart

Other info http://biz.thestar.com.my/sunway

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SUNWAY - stock code 4308

SUNWAY HOLDINGS   sector : construction

Below: Sunway daily chart (click to enlarge):

1. The uptrend from Nov 08 to early Aug 09 already corrected to 38% (also a significant Fibonacci level).  Believe so the correction phase is over and now heading to 1.60

2. Micro double-bottom pattern with higher low. 

3.  Vital support at 1.16 zone. (also a signal zone - if collapsed then forget it))

4. Expecting strong resistance at RM1.60. A strong breakout needed first for higher target.

Last few 'down' days could give good entry price. Reversal from this few down days is a bullish signal. Important for 1.16 support to hold. For early warning watch any weakness in the 1.22-1.20 price zone.

Below: Sunway daily chart (click to enlarge):
 Other info on Sunway at thestar biz

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