RHB Investment Research Reports
Trading Stocks - Sime Darby Property
rhbinvest
Publish date: Mon, 21 Oct 2024, 11:21 AM
rhbinvest
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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
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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
Malaysia
Tel : +(60) 3 9280 8888
Fax : +(60) 3 9200 2216
Sime Darby Property is attempting to stage a bullish breakout, testing the immediate resistance on high volume. The stock has been consolidating sideways below the MYR1.55 resistance. We observed the 21-day SMA line is pointing upwards, showing the short-term trend is bullish. If it breaches the immediate resistance, this will confirm the bullish setup. In this case, the counter will travel towards MYR1.70, followed by MYR1.80. However, if it breaches the MYR1.43 support, this will open the door for downside movement
Source: RHB Securities Research - 21 Oct 2024
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