KUALA LUMPUR (Aug 2): AllianceDBS Research said Opcom Holdings Bhd (Opcom) had on Aug 1 gapped up to reach a high of RM1.02 before closing at the day’s low at 96.5 sen (up 2.5 sen or 2.66%).

In its evening edition yesterday, the research house said Opcom continued to trade above the 20-day (blue) and 50-day (red) moving average lines.

“The upside gap indicated the urgency to establish stock position.

“Following the up close on Aug 1, the stock is likely to move higher again with immediate hurdle at RM1.02.

“A crossover of RM1.02 should see further price rise to the next overhead resistance at RM1.10.

“The support is pegged at 96 sen. A fall below 96 sen would put pressure on the stock down to the subsequent support at 93.5 sen,” it said.

AllianceDBS Research said stock volume traded on Aug 1 was 25.0 million shares compared to the 3-month average volume of 12.7 million shares.