Sime Darby is consolidating at a lower level with an immediate resistance level at RM1.94. Observe that the RSI indicator is in the oversold region, and it may experience a technical rebound in upcoming sessions. If this happens, the short-term target prices will be RM2.02 and RM2.10. The downside support is anticipated at RM1.85, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM1.94

Target: RM2.02, RM2.10 (time frame: 3-6 weeks)

Exit: RM1.85

Source: AmInvest Research - 10 Mar 2020