As at 12.30pm, SIMEPLT and SIMPROP closed higher at RM4.81 & RM1.17. These prices are also higher than the intra-day high recorded yesterday: RM4.79 for SIMEPLT and RM1.16 for SIMEPROP. On the other hand, SIME showed weakness by failing to rise above yesterday close. (Note: The strength of SIME on the first day of re-quotation was due to the availability of a 17-sen dividend which went ex on Dec 4.)
Table: SIME, SIMEPLT & SIMEPROP's prices for the past 3 & 1/2 days
Chart: SIME, SIMEPLT & SIMEPROP's 15-min chart (Source: Malaysiastock.biz)
Based on this price action today, I believe the sell-down for SIMEPLT and SIMPROP could be over. Those who like to get into a pure play stock - be it plantation or property stock - can consider SIMEPLT or SIMEPROP. The recent low - at RM4.58 for SIMEPLT and RM1.04 for SIMEPROP - may mark the low for the stocks for a while. The good entry for these stocks could be their intra-day high yesterday: RM4.79 for SIMEPLT and RM1.16 for SIMEPROP. Good luck!
Note:
I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.
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