Sime Darby Property has rebounded from its low to test the immediate RM0.85 resistance level. With a rising RSI, a bullish bias may be present above this mark with target prices of RM0.92 and RM0.96. Meanwhile, it may continue moving sideways if it fails to cross RM0.85 in the near term. In this case, the immediate support is anticipated at RM0.76, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.85
Target: RM0.92, RM0.96 (time frame: 3-6 weeks)
Exit: RM0.76

Source: AmInvest Research - 15 Nov 2019