AmInvest Research Reports

Stock on Radar - Sime Darby Property (SIMEPROP)

AmInvest
Publish date: Thu, 17 Oct 2024, 09:26 AM
AmInvest
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Sime Darby Property (SIMEPROP | 5288)

Last Price: RM1.50 | Technical Call: BUY

Technical chart: SIMEPROP

Support 1: RM1.47Resistance 1: RM1.70
Support 2: RM1.36Resistance 2: RM1.80
Shariah Compliant: YesSector: Property

Sime Darby Property's buying interest is back after it broke out of the 11-week downtrend line with a long positive candle two sessions ago. In view that the 20-day and 50-day EMAs are starting to turn upwards, additional upside strength may be present in the near term. A bullish bias may emerge above the RM1.47 level with stop-loss set at RM1.34, below the 50-day EMA.

Towards the upside, near-term resistance level is seen at RM1.70, followed by RM1.80.

Entry: RM1.47-1.50

Target: RM1.70, RM1.80

Exit: RM1.34

 

Source: AmInvest Research - 17 Oct 2024

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