KUALA LUMPUR (Nov 3): RHB Retail Research said Optimax Holdings Bhd is set to propel towards its historical high after it surpassed the 79 sen immediate resistance on Wednesday (Nov 2), supported by strong trading volume above the 21-day average line.

In a trading stocks note on Thursday, the research house said as Wednesday’s closing drew a “higher high” bullish structure, the stock is likely to jump higher towards the 84.5 sen historical high, before possibly printing a new high at 90 sen.

“Conversely, the bullish momentum may reverse if it falls under the 73 sen support, forming a 'lower low' bearish structure below the average line,” it said.