RHB Investment Research Reports

Trading Stocks - Sime Darby Property

Publish date: Tue, 28 Mar 2023, 09:19 AM
0 2,397
An official blog in I3investor to publish research reports provided by RHB Research team.

All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com

RHB Investment Bank Bhd
Level 3A, Tower One, RHB Centre
Jalan Tun Razak
Kuala Lumpur

Tel : +(60) 3 9280 8888
Fax : +(60) 3 9200 2216

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

Be the first to like this. Showing 0 of 0 comments

Post a Comment