Sime Darby has rebounded from its low to test the immediate RM2.20 resistance level. With a rising RSI, a bullish bias may be present above this mark with the target prices of RM2.26 and RM2.30. The immediate support is anticipated at RM2.14, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM2.20
Target: RM2.26, RM2.30 (time frame: 3-6 weeks)
Exit: RM2.14
Source: AmInvest Research - 31 Jan 2020
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Created by AmInvest | Nov 25, 2024