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!
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