Sime Darby Property (SIMEPROP | 5288)
Last Price: RM1.50 | Technical Call: BUY
Support 1: RM1.47 | Resistance 1: RM1.70 |
Support 2: RM1.36 | Resistance 2: RM1.80 |
Shariah Compliant: Yes | Sector: Property |
Sime Darby Property's buying interest is back after it broke out of the 11-week downtrend line with a long positive candle two sessions ago. In view that the 20-day and 50-day EMAs are starting to turn upwards, additional upside strength may be present in the near term. A bullish bias may emerge above the RM1.47 level with stop-loss set at RM1.34, below the 50-day EMA.
Towards the upside, near-term resistance level is seen at RM1.70, followed by RM1.80.
Entry: RM1.47-1.50
Target: RM1.70, RM1.80
Exit: RM1.34
Source: AmInvest Research - 17 Oct 2024
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SIMEPROPCreated by AmInvest | Nov 21, 2024