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SIME DARBY PROPERTY BERHADSIME DARBY PROPERTY BERHADSIME DARBY PROPERTY BERHAD

SIME DARBY PROPERTY BERHAD

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SIMEPROP trade ideas

SIMEPROP another fund manager's favourite?Looking at the chart for Sime Darby Property Berhad, here's my analysis: Current Price Action: - Trading at RM1.37, down 2.14% - Currently forming what appears to be a triangle pattern - Strong uptrend from late 2023 into early 2024 Technical Analysis: 1. Elliott Wave Pattern: - Appears to be in Wave IV of a larger 5-wave structure - Wave III peaked around RM1.70 - Currently in a corrective triangle pattern typical of Wave IV 2. Key Price Levels: - Resistance at RM2.12 (0.786 Fibonacci level) - Support around RM1.23 (marked on chart) - Triangle pattern providing immediate support and resistance 3. Price Targets: - Chart shows a target of RM1.93 (0.618 Fibonacci level) for potential Wave V - Stop loss indicated at RM1.24 (11.24% below current price) - Risk/reward ratio shown as 1.63 Pattern Analysis: - Triangle pattern (labeled A-B-C-D-E) suggesting consolidation - Once triangle completes, expect a breakout for Wave V - Bullish bias as long as price stays above triangle support Trading Setup: - Entry zone: Current levels around RM1.37 - Target: RM1.93 (0.618 Fibonacci) - Stop loss: RM1.24 - Risk/Reward appears favorable at 1.63
MYX:SIMEPROPLong
by pengamalgelombang