SMRT Holdings may rise higher after it formed a white candle and hit a new 52-week high yesterday. Given that the stock has broken out from the 7-week bullish ascending triangle formation as well, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM0.73 level, with stop-loss set at RM0.67, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.90, followed by RM1.00.

Entry : RM0.73–0.79

Target : RM0.90, RM1.00

Exit : RM0.67

Source: AmInvest Research - 2 Jun 2023