AmInvest Research Reports
Stock on Radar - Sime Darby Property (SIMEPROP)
AmInvest
Publish date: Thu, 17 Oct 2024, 09:26 AM
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
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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