RHB Retail Research

Trading Stocks - Sime Darby

Publish date: Fri, 18 Feb 2022, 10:05 AM
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RHB Retail Research

Sime Darby is poised to move past its consolidation level, as strong bulls (White Marubozu) appeared yesterday, pushing the stock towards the MYR2.32 immediate resistance on high volume. If it manages to break past that level, the positive momentum should propel the stock towards the higher resistance of MYR2.42, followed by MYR2.52. Conversely, falling below the MYR2.22 support will trigger selling pressure and reverse the momentum, thereby nullifying the recent breakout level.

Source: RHB Securities Research - 18 Feb 2022

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