Sime Darby was consolidating with the immediate resistance level of RM1.76. Notice that there was high trading volume in the previous session, indicating a mild accumulation. If there’s a breakout from the resistance in the upcoming session, it may moves towards the next short-term target prices of RM1.83 and RM2.00. The downside support is anticipated at RM1.60, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM1.76

Target: RM1.83, RM2.00 (time frame: 3-6 weeks)

Exit: RM1.60

Source: AmInvest Research - 1 Apr 2020