Sime Darby Property’s buying interest is back after it broke out of the 3-week bullish flag pattern with a long white candle on Friday. The stock pushing near its 52-week high, supported by rising EMAs, likely indicates that the upward momentum may be picking up. A bullish bias may emerge above the RM0.92 level with stop-loss set at RM0.84, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM1.05, followed by RM1.10.

Entry : RM0.92–0.945

Target : RM1.05, RM1.10

Exit : RM0.84

Source: AmInvest Research - 15 Apr 2024