Sime Darby Property may soon test the resistance level of RM0.78. Observe that the momentum indicator RSI is slanting upwards, indicating that there is a possibility it may break out from the resistance level. If this happens, the bullish momentum may persist and head towards the shortterm target prices of RM0.815 and RM0.84. The downside support is anticipated at RM0.745, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.78

Target: RM0.815, RM0.84 (time frame: 3-6 weeks)

Exit: RM0.745

Source: AmInvest Research - 4 Mar 2020