Ocean Vantage Holdings may be headed for an uptrend reversal after bouncing off the 21-day SMA line and testing the immediate resistance of MYR0.25 yesterday, on strong trading volume. If a breakout above that level happens, the stock may trend northwards further towards the 52-week high of MYR0.275, followed by the next resistance level of MYR0.31. Towards the downside, falling below the MYR0.225 support would invalidate the bullish setup, as it would be trading below the 21-day SMA line.

Source: RHB Securities Research - 2 Feb 2024