Opcom Holdings is set for a short-term uptrend reversal. This is as it bounced off the recent low and breached above the MYR0.70 level yesterday on strong trading volumes – forming a “Morning Star” bullish reversal pattern. The bullish momentum above that threshold may see the stock climb further towards MYR0.76 – this is followed by the MYR0.87 next resistance. On the flip side, dropping below the MYR0.65 support will nullify our expectations.

Source: RHB Securities Research - 9 Mar 2023