Optimax Holdings Bhd

• Share price closed 0.69% higher at RM0.725 on Monday.

• OPTIMAX has been on a downward trend since reaching its 52-week peak of RM0.845 in Dec-22, with support seen at RM0.695. Share price has been testing the resistance of RM0.73 before settling at the current level, accompanied by strong buying volume over the past week. Fundamentally, OPTIMAX has obtained a license from the Ministry of Health to offer plastic surgery and aesthetic services at its Ipoh Specialist Centre early this month, broadening its range of business services. Coupled with indicators showing uptick momentum, share price is expected to move higher.

• Resistance level are identified at RM0.73 (R1) and RM0.74 (R2).

• On the flipside, support levels are pegged at RM0.695 (S1) and 0.68 (S2).

Source: Rakuten Research - 22 Aug 2023

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