Optimax Holdings is poised to head north, after it attempted to break the resistance yesterday. With a “higher low” pattern registered, buying interest has been gaining traction lately. A bullish bias may appear if the stock breaches above the immediate resistance of MYR1.60. Towards the upside, the next resistance is pegged at MYR1.67, then MYR1.70. Meanwhile, if the stock falls below the support level of MYR1.55, this expectation would be invalidated.

Source: RHB Securities Research - 5 May 2021