Sime Darby Property Berhad

• SIMEPROP posted two consecutive white candlesticks as it broke out from its bullish flag pattern, surpassing the immediate resistance at RM1.57, indicating that further upside could be on the horizon, supported by the healthy trend of the EMAs, which continue to show strong momentum.

• Thus, we expect the upward trajectory to steer the stock higher and test the next resistance at RM1.69 (R1) followed by RM1.78 (R2) in the near term.

• On the downside, stop-loss is set at RM1.50

Source: Rakuten Research - 30 Dec 2024

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