0040) Author: PublicInvest Publish date: Wed, 7 Oct 2020, 10:25 AM Close
Target Price RM1.09, RM1.14 Last closing price RM0.960 Potential return 13.5%, 18.7% Support RM0.920 Stop Loss RM0.850 Possible for further upside. OPENSYS is attempting to extend its current uptrend. Improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in the near term. Should resistance level of RM1.03 be genuinely broken with renewed buying interest, it may continue to lift price higher to subsequent resistance levels of RM1.09 and RM1.14.
However, failure to hold on to support level of RM0.920 may indicate weakness in the share price and hence, a cut-loss signal.
LiimInvest, thanks. 1.03 broken today :) And I said on Mon that breakout happened last Friday :) I will not say if I will keep my holding or collect more tho :) Trust the company, trust the chart. Good luck
short term players may start taking profit tomorrow, so expecting selling or resistance blocking. Will see if it's going strong and breakout all these barriers, leaving the players in shocking face
HappyTrade, a bonus issue announcement usually trigger up and down in share price upon announcement. It’s a combination of investors as well as traders reactions. Bonus issues usually is a good sign and will reward in the longer term even tho the share price will drop accordingly (1/3 in Opensys case but shareholding increase by half) on ex-div date
@mattdjerry86, yes price will drop on Monday. It will drop 33.33% fr todays close of 0.95 while those that are registered shareholders via CDS will get another half of the shares they already owned. If you missed the boat today, it’s ok... some are traders looking to buy after drop in price and have no intention of investing/keeping
@jungleboy, on bonus day the price auto reduced. So folks buy (since cheaper... it depends on their budget for stock trading/investment), price goes up. And then they take profit when price goes up on bonus day and so price fall. It’s the traders, not the investors that cause this
Mattdjerry86, it’s entirely up to you. Do your math, watch the chart/sentiment on Monday around 9.30am. Most importantly decide whether you ate long term or a trader when it comes to Opensys. Good luck
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
anthonytkh
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Posted by anthonytkh > 2020-10-06 11:08 | Report Abuse
What’s that famous song in Madagascar movie? :)