SMRT Holdings posted 2 white candles in a row and pushed above the RM0.80 resistance yesterday, which likely indicates the return of buying momentum. In view that the 20-day and 50-day EMAs are starting to turn upwards, a positive outlook can be expected here. A bullish bias may emerge above the RM0.80 level, with stop-loss set at RM0.72, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.90, followed by RM0.95.

Entry : RM0.80–0.84

Target : RM0.90, RM0.95

Exit : RM0.72

Source: AmInvest Research - 5 Sept 2023