Optimax Holdings Bhd (OPTIMAX, 0222)

• Share price closed 2.4% higher at RM1.37 on Tuesday.

• OPTIMAX trended higher since 18 Nov ahead of its ex-dividend date on 9 Dec and closed above both MA20 and MA50. There are also buy signals from its Parabolic indicator and MACD bullish crossover recently.

• Backed by uptick in its indicators, the share price is poised to move higher.

• Resistance levels are identified at RM1.42 (R1) and RM1.57 (R2).

• On the flipside, support levels are pegged at RM1.31 (S1) and RM1.26 (S2).

Source: Rakuten Research - 1 Dec 2021