Opcom Holdings climbed and hit the RM0.95 resistance level. With its RSI indicator pointing upward, 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 RM0.99 and RM1.01. The downside support is projected at RM0.89. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.95

Target: RM0.99, RM1.01 (time frame: 2-4 weeks)

Exit: RM0.89
 

Source: AmInvest Research - 26 Jan 2022