Optimax may rise higher after it formed a long white candle and hit a new 52-week high yesterday. Given that the stock has broken out from the 1-week bullish pennant pattern and supported by its rising EMAs, the near term bullish trend may still have legs. A bullish bias may emerge above the RM0.75 level, with a stop-loss set at RM0.70, below 9 Sep’s low. Towards the upside, the near-term resistance level is seen at RM0.82, followed by RM0.85.

Entry : RM0.75–0.775

Target : RM0.82, RM0.85

Exit : RM0.70

Source: AmInvest Research - 13 Sept 2022