Hot Stock Opensys rises 3.39% on firmer technical outlook
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Hot Stock Opensys rises 3.39% on firmer technical outlook
- Hot Stock
[size=28]Opensys rises 3.39% on firmer technical outlook
By Surin Murugiah / theedgemarkets.com | January 13, 2016 : 9:42 AM MYKUALA LUMPUR (Jan 13): Opensys (M) Bhd ([You must be registered and logged in to see this image.] Valuation: 2.40, Fundamental: 1.70) rose 3.39% in early trade today afyerHong Leong IB Research said Opensys was poised to test the medium upside targets at 34.5 sen – 36. 5 sen.
At 9.21am, Opensys added 1 sen to 30.5 sen with 946,000 shares done.
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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