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TECHNICAL STOCKPICK SMRT (BUY, TP: RM2.19)
The sharp recovery suggests the potential formation of a rounding bottom—a bullish reversal pattern indicating a shift from downtrend to uptrend. A confirmed breakout could see the stock testing resistance at RM1.09 (200D MA) and RM1.18 (76.4% FR). On the downside, key support levels are pegged at RM0.94 (38.2% FR) and RM0.90 (30D MA).
Dengkil can leverage its track record from the Central Spine Road Project and LRT Line 3 to secure more projects, such as the Penang LRT infrastructure and the JSSEZ action plan, and maybe tap into large-scale projects, including LRT, MRT, ART, or BRT systems too
With RM437 million in future revenue from sold KL-48 units and RM98.56 million from unsold stock, EcoFirst is preparing new launches worth RM411 million, and planning a flagship RM8 billion township on its 67-acre Ampang Ukay land, with the first phase targeted for launch in 4Q26.
