SMRT Holdings may rise higher after it formed a long positive candle and hit a new record high yesterday. The stock’s move above the key RM1.14 resistance coupled with rising EMAs indicates that the near term upward momentum may persist. A bullish bias may emerge above the RM1.20 level with stop-loss set at RM1.06, below the 16 Jul low. Towards the upside, near-term resistance level is seen at RM1.40, followed by RM1.50.

Entry : RM1.20–1.26

Target : RM1.40, RM1.50

Exit : RM1.06

Source: AmInvest Research - 19 Jul 2024