Sime Darby Property Bhd.

• We believe buying interests for SIMEPROP may have returned following a break-out from its 2 months downward channel pattern two sessions ago. As the stock pulled further away from the EMAs line coupled with its RSI indicator pointing upward thus it is likely that buying interests may have returned.

• A bullish bias may emerge above the RM0.63 level and should lift it towards the subsequent level of RM0.72 (R1), followed by RM0.76 (R2).

• On the downside, stop-loss is set at RM0.60, below the 20-days EMAs.

Source: Rakuten Research - 28 Nov 2023

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