Sime Darby has been consolidating range-bound during recent sessions. With a neutral RSI, there is a possibilibity it will break the immediate resistance of RM2.32, with a target price of RM2.39 followed by RM2.46. On the downside, support price is anticipated at RM2.25 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM2.32
Target: RM2.39, RM2.46 (time frame: 3-6 weeks)
Exit: RM2.25

Source: AmInvest Research - 23 Dec 2019