RHB Retail Research
Trading Stocks - Sime Darby Property
Sime Darby Property is poised for a technical breakout after it bounced off from the recent pullback, while attempting to breach the MYR0.665 resistance level yesterday. If a breakout occurs above that level, bullish momentum may emerge to propel the stock towards April’s high of MYR0.695, and then the 52-week high of MYR0.755. However, falling below the MYR0.64 support may trigger a downtrend.
Source: RHB Securities Research - 24 Sept 2021
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