Opcom Holdings Berhad (OPCOM, 0035)

• Share price closed 4.37% higher at RM0.835 on Tuesday.

• OPCOM is pending a breakout from its consolidation phase. It also had high buying volume yesterday post its announcement on the proposed RM90m acquisition of telco network infrastructure provider. With a bullish MACD crossover and indicators showing uptick movement, share price is expected to move higher.

• Resistance levels are identified at RM0.84 (R1) and RM0.865 (R2).

• On the flipside, support levels are pegged at RM0.77 (S1) and RM0.71 (S2).

Source: Rakuten Research - 21 Sept 2022