KUALA LUMPUR (Nov 15): RHB Retail Research said Opcom Holdings Bhd is set for a bullish reversal as it rebounded from a recent sharp retracement while surpassing the 85.5 sen breakout level, on stronger trading volume.
In a trading stocks note on Tuesday (Nov 15), the research house said that the bullish momentum above that level should push the stock past the 21-day average line and head it towards the 94 sen resistance, followed by 97.5 sen, ie Nov 2’s high.
“Conversely, the bullish reversal may be negated if it falls below the 82 sen support, forming a 'lower low' bearish structure,” it said.