We believe the buying momentum for SMRT Holdings may have returned following a breach above the 4-month downtrend line on Friday. 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 RM0.73, below the 50-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 : RM0.73

Source: AmInvest Research - 16 Oct 2023