Sime Darby Property is eyeing to extend the upside movement after staging a bullish breakout. The stock has climbed above the MYR1.43 resistance to confirm a bullish setup. Meanwhile, the 21-day SMA line is curving upwards, which shows the short-term trend is bullish. Riding on this renewed momentum, the counter is poised to test the next resistance at MYR1.55, followed by the MYR1.70 mark. However, a breach below the MYR1.30 support resumes the correction phase.

Source: RHB Securities Research - 17 Sept 2024