SMRT Holdings may rise higher after it broke above the 2-months downward channel a few sessions ago. With the 4 consecutive white candles coupled with the 20-day EMA start to turn upwards, likely suggesting that bullish momentum is picking up further. A bullish bias may emerge above the RM0.72 level, and the bullish momentum should lift it towards the subsequent resistance levels of RM0.85, followed by RM0.90. Towards the downside, the stop-loss is set at RM0.66, below the 7 August low.

Entry : RM0.72–0.76

Target : RM0.85, RM0.90

Exit : RM0.66

Source: AmInvest Research - 18 Aug 2023