Opcom Holdings is set for a bullish reversal as it rebounded from a recent sharp retracement while surpassing the MYR0.855 breakout level, on stronger trading volume. The bullish momentum above that level should push the stock past the 21- day average line and head it towards the MYR0.94 resistance, followed by MYR0.975, ie 2 Nov’s high. Conversely, the bullish reversal may be negated if it falls below the MYR0.82 support, forming a “lower low” bearish structure.

Source: RHB Securities Research - 15 Nov 2022