Opcom Holdings tested the RM0.535 resistance level after consolidation. With its RSI indicator in an uptrend, coupled with a higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards short-term target prices of RM0.57 and RM0.58. A downside support is projected at RM0.49. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.535

Target: RM0.57, RM0.58 (time frame: 2-4 weeks)

Exit: RM0.49
 

Source: AmInvest Research - 3 Jun 2021