OpenSys is eyeing to extend the upside movement after testing the MYR0.38 immediate resistance yesterday on strong volume – it is the stock’s fifth time hitting the resistance level since Aug 2023. If a breakout occurs above this level, bullish momentum may accelerate to drive the stock upwards towards the MYR0.40 resistance level, followed by the next one at MYR0.415. However, a fall below the MYR0.355 support would negate the bullish structure.

Source: RHB Securities Research - 6 Mar 2024