Optimax Holdings Bhd (OPTIMAX, 0222)

• Share closed 1.96% higher at RM0.78 on Tuesday.

• OPTIMAX has been on a consolidation phase trending near its MA 20 and MA 50 lines over the past 4 months. Nonetheless, buying interests were seen yesterday with bullish harami candlestick formed. Coupled with indicators showing uptick momentum, share price is expected to propel higher.

• Resistance levels are identified at RM0.805 (R1) and RM0.83 (R2).

• On the flipside, support levels are pegged at RM0.755 (S1) and RM0.74 (S2).

Source: Rakuten Research - 8 Feb 2023

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