Yesterday, OPENSYS went up by 0.5 sen or 1.3% to close at RM0.38. Recall that we have issued a “Trading Buy” call on the stock on 7 April with a target price of RM0.42. However, the share price failed to perform according to our expectations but has been consolidating since then. Coupled with lower-than-average trading volume, the technical picture has also turned out to be less attractive with all the indicators posting neutral stance. Hence, we are closing our position and might revisit the stock once the chart becomes more compelling.

Source: Kenanga Research - 22 Apr 2015