Ocean Vantage Holdings is currently consolidating laterally above the 21-day SMA line – it showed interest in surpassing the MYR0.24 mark during the intraday session yesterday. In the event of a breakout, the sideways consolidation could transform to an upward trend, potentially advancing towards the MYR0.275 level, representing the 52-week high, followed by the immediate resistance at MYR0.31. On the flip side, a drop below the MYR0.21 support would indicate a potential downtrend.

Source: RHB Securities Research - 22 Dec 2023