RHB Investment Research Reports

Trading Stocks - Sime Darby Property

rhbinvest
Publish date: Mon, 21 Oct 2024, 11:21 AM
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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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