Optimax Holdings Bhd
- OPTIMAX may extend it upward trajectory after breaking out from its two-week bullish rectangular pattern last Friday. This is further supported by the RSI reading along with a gradual rise in trading volume. Additionally, the positive cross of its 20-day EMA above the 50-day EMA few sessions ago should enhance the upward momentum.
- We expect the rising momentum to steer the stock higher and test the next level of resistance of RM0.72 (R1), followed by RM0.77 (R2).
- On the downside, stop-loss is set at RM0.61, below the 50-day EMA.
Source: Rakuten Research - 1 Apr 2024
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