SMRT Holdings broke out from a 2-week bullish pennant pattern yesterday, implying that its previous uptrend may have resumed. With the stock posting a long white candle and pushing near its all-time high, buying momentum may be present now. A bullish bias may emerge above the RM0.90 level, with stop-loss set at RM0.82, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM1.10, followed by RM1.20.

Entry : RM0.90–0.96

Target : RM1.10, RM1.20

Exit : RM0.82

Source: AmInvest Research - 3 Nov 2023