Sime Darby rose and hit the RM2.26 resistance level. With its 21-day moving average in an uptrend, coupled with a bullish white candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM2.33, followed by RM2.37. The downside support is marked at RM2.18. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM2.26

Target: RM2.33, RM2.37 (time frame: 2-4 weeks)

Exit: RM2.18
 

Source: AmInvest Research - 28 Dec 2021