SMRT Holdings broke out from its 6-week bullish pennant pattern yesterday, implying that its previous uptrend may have resumed. The stock also posted a long white candle and hit a new multi-year high, likely suggesting that upward momentum is picking up further. A bullish bias may emerge above the RM1.00 level, with stop-loss set at RM0.89, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM1.15, followed by RM1.20.

Entry : RM1.00–1.05

Target : RM1.15, RM1.20

Exit : RM0.89

Source: AmInvest Research - 30 Nov 2023