OCK is testing the resistance with a higher trading volume, attempting to break out from the sideways zone. The stock has been consolidating sideways since early December, with the immediate resistance marked at MYR0.46. A successful breakout from the resistance will see the stock trading higher to test the next hurdle at MYR0.485. This is followed by the MYR0.51 level. A downside breach of the MYR0.435 support will negate this expectation and should result in a stock price correction.

Source: RHB Securities Research - 5 Jan 2021