Optimax Holdings rose and touched the RM1.38 resistance level. 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 the short-term target prices of RM1.43 and RM1.46. The downside support is projected at RM1.31. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.38

Target: RM1.43, RM1.46 (time frame: 2-4 weeks)

Exit: RM1.31
 

Source: AmInvest Research - 1 Dec 2021