Sime Darby inched above the resistance level of RM2.35 in its latest session. With a rising RSI, a bullish bias may be present above this mark with target prices of RM2.46 and RM2.56. Meanwhile, it may continue moving sideways if it dips below RM2.35 in the near term. In this case, the immediate support is anticipated at RM2.25, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM2.35
Target: RM2.46, RM2.56 (time frame: 3-6 weeks)
Exit: RM2.25

Source: Kenanga Research - 14 Nov 2019