Oceancash Pacific jumped with high trading volume, to test the immediate resistance of MYR0.82. If it breaks out from the resistance level, we should see a higher high pattern formed – which indicates that a new uptrend has begun. If this happens, the bullish momentum should send the share price towards MYR0.88, followed by MYR0.95. A downside breach of the MYR0.75 support would negate this expectation, and the stock may fall back into a sideways consolidation mode.

Source: RHB Securities Research - 15 Oct 2020