Sime Darby Property has rebounded from its low to break past the resistance level of RM0.845. With a rising RSI, a bullish bias may be present above this mark with target prices of RM0.91 and RM0.965. Meanwhile, it may continue moving sideways if it dips below the RM0.845 mark in the near term. In this case, the immediate support is anticipated at RM0.79, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM0.845

Target: RM0.91, RM0.965 (time frame: 3-6 weeks)

Exit: RM0.79

Source: AmInvest Research - 30 Aug 2019