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NewsOpensys poised to test 34.5 sen – 36.5 sen, says HLIB Research
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Opensys poised to test 34.5 sen – 36.5 sen, says HLIB Research
by Cals Wed 13 Jan 2016, 20:04
Opensys poised to test 34.5 sen – 36.5 sen, says HLIB Research
By theedgemarkets.com / theedgemarkets.com | January 13, 2016 : 8:22 AM MYTKUALA LUMPUR (Jan 13): [size=16]Opensys (M) Bhd ([You must be registered and logged in to see this image.] Valuation: 2.40, Fundamental: 1.70) is poised to test the medium upside targets at 34.5 sen – 36. 5 sen, according to Hong Leong IB Research.
In a note today, HLIB Research said with prices holding well above daily key SMAs and uptrend line supports coupled with gradual upticks in technical indicators, Opensys appears to be at the tail end of its ascending triangle consolidation pattern to launch a breakout soon.
“A decisive breach above 30.5 sen (downtrend line and 23.6% FR) is likely to spur prices higher towards the 31.5 sen (R1) and 34.5 sen (52-week high), before reaching our long term objective of 36.5 sen levels.
“Supports are at 27 sen-28.5 sen. Cut loss at 26.5 sen,” it said.
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