Oppstar Bhd

• OPPSTAR is poised for a potential bullish breakout from its two-month rectangular pattern, targeting the immediate resistance at RM1.65. As the 20-day and 50-day EMAs are converging and likely to confirm a bullish crossover, a positive outlook can be expected anytime soon.

• In the event it breaks above the RM1.65 neckline, this will improve the underlying sentiment and lift the stock towards the subsequent level of RM1.75 (R1), follow by RM1.88 (R2).

• On the downside, stop-loss is set at RM1.49.

Source: Rakuten Research - 14 Nov 2023

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