Optimax gapped up above the resistance level of MYR0.785 with a higher trading volume. From a technical perspective, we see the formation of the breakaway gap, indicating a bullish trend. If it continues to trade above MYR0.785, expect the bullish momentum to reach the next resistance at MYR0.825, followed by MYR0.88. A downside breach of the MYR0.76 support level would nullify this expectation.
Source: RHB Securities Research - 30 Sept 2020
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