SMRT Holdings’ buying momentum is back after it broke out of the 1-month bullish flag pattern with a white candle yesterday. In view that the 20-day and 50-day EMAs are starting to turn upwards, additional upside strength may be present in the near term. A bullish bias may emerge above the RM0.77 level, with a stop-loss set at RM0.71, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM0.86, followed by RM0.90.

Entry : RM0.77–0.80

Target : RM0.86, RM0.90

Exit : RM0.71

Source: AmInvest Research - 12 Jul 2023