Sime Darby Property is expected to resume its bullish momentum after retracing mildly yesterday following Friday’s breakout – it bounced off its MYR0.64 breakout level during yesterday’s intraday session. If it manages to sustain above that level, the bullish bias may continue to drive the stock towards the MYR0.705 resistance, followed by the next resistance level of MYR0.78. In the event it drops below the MYR0.615 support, the bullish momentum may lose steam and cause the stock to head south.

Source: RHB Securities Research - 23 Feb 2022