Sime Darby Plantation is eyeing a breakout, as it climbed and tested the immediate resistance of MYR4.40 yesterday, solidifying its uptrend structure above the 21-day SMA line. If a breakout happens, the stock may rebound further towards the next resistance of MYR4.60, then the MYR5 threshold. However, falling below the MYR4.25 support would void the expectation of a rebound – and the stock price may trend downwards.
Source: RHB Securities Research - 5 May 2023
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SIMEPLTCreated by rhbinvest | May 10, 2024
Created by rhbinvest | May 09, 2024
Created by rhbinvest | May 08, 2024