SMRT Holdings broke out from its bullish tower bottom pattern with a long positive candle a week ago, implying that a bullish reversal may have occurred. The stock’s move above the RM1.10 resistance also coincides with rising EMAs on Friday, likely suggesting that buying momentum is picking up. A bullish bias may emerge above the RM1.10 level with stop-loss set at RM0.99, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM1.30, followed by RM1.40.

Entry : RM1.10–1.18

Target : RM1.30, RM1.40

Exit : RM0.99

Source: AmInvest Research - 19 Aug 2024