Sime Darby Property looks set to continue its upward trend towards the YTD high. The stock has sustained above the MYR0.49 recent breakout with high trading volume, indicating strong buying interest. The "higher low" bullish pattern above the 21-day SMA line suggests that the stock may climb to reclaim the MYR0.535 YTD high, followed by the MYR0.58 resistance. However, if the stock drops below the MYR0.46 support level, it may reverse the momentum and form a "lower low" bearish pattern.

Source: RHB Securities Research - 28 Mar 2023