Optimax Holdings is moving sideways, testing the RM1.36 resistance level. With its 21-day moving average indicator in an uptrend, coupled with higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM1.47 and RM1.50. The downside support is projected at RM1.24. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.36

Target: RM1.47, RM1.50 (time frame: 2-4 weeks)

Exit: RM1.24

Source: AmInvest Research - 26 Feb 2021