Opcom Holdings Bhd (OPCOM, 0035)

• Share price closed unchanged at RM1.01 on Friday.

• OPCOM has a correction from its high of RM1.79 recently with lower volume. The Golden Retracement Ratio (0.618) acts as its strong support level (RM1.00) which has been tested a few times. OPCOM is currently trading at this support level.

• Provided that the share price does not break below the support level of RM1.00, we expect to see a rebound in share price sooner or later.

• Resistance levels are identified at RM1.15 (R1) and RM1.30 (R2).

• On the flipside, support levels are pegged at RM1.00 (S1) and RM0.785 (S2).

Source: Rakuten Research - 22 Nov 2021