Opensys (M) Bhd.

• OPENSYS is eyeing to stage a bullish breakout to cross above the immediate resistance of RM0.38. The supportive technical reading in RSI along with a gradual rise in trading volume, coupled with the stock pulling further away from all the EMAs, implies that a bullish continuation sign may have occurred.

• In the event it breaks above the RM0.38 threshold, this will improve market sentiment and should lift the stock towards the subsequent level of RM0.40 (R1), followed by RM0.42 (R2).

• On the downside, stop-loss is set at RM0.35, below the 50-day EMAs.

Source: Rakuten Research - 20 Nov 2023

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