Opcom Holdings is poised to trend north as it rebounded strongly from the 21-day average line, while attempting to surpass the immediate resistance of MYR0.84, and forming a “higher high” bullish structure. Bullish bias above that level may propel it further towards the MYR0.895 point (1 Aug’s high), followed by MYR0.99 or 12 May’s high. However, the counter may reverse direction if it falls below the MYR0.785 support – trading below the average line while forming a “lower low” bearish structure.
Source: RHB Securities Research - 21 Sept 2022
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