Optimax posted three white candles in a row and recovered above its 20-day EMA yesterday, likely indicating the return of buying interest. With the bullish harami pattern coming off the rising 50-day EMA, there is likely still room to the upside from here. A bullish bias may emerge above the RM0.73 level, with a stop-loss set at RM0.67, below the bullish harami pattern support. Towards the upside, the near-term resistance level is seen at RM0.80, followed by RM0.85.

Entry : RM0.73–0.75

Target : RM0.80, RM0.85

Exit : RM0.67

Source: AmInvest Research - 19 Oct 2022