SMRT’s positive earnings prospect has gained investors interests, while the share price has been appreciated substantially since early of this year (YTD +297.7%). Yesterday, SMRT share price rallied 8% or 6.5 sen to RM0.875 and supported by increase in daily trading volume. The share price closed above the resistance level of RM0.87 and all its SMA trend lines. Meanwhile, the MACD indicator has performed a positive crossover; Stochastic and RSI are both hooking upwards, suggesting the bullish momentum. Should buying interests persist, we reckon the share price to retest its previous high of RM0.95 (R1) level.

 

 

Source: Kenanga