Date: October 22, 2024
Broker: CGS International

Overview

Optimax Holdings is a Malaysian healthcare company specializing in eye care services. It operates a network of eye specialist centers across Malaysia, offering comprehensive services such as cataract surgeries, LASIK treatments, and other ophthalmological procedures. The company is known for its focus on quality care and advanced eye treatment technologies.

Current Stock Performance

• Last Price: RM 0.675
• Entry Price Range: RM 0.695
• Support Levels:
  • Support Level: RM 0.630
• Resistance Levels:
  • Resistance 1: RM 0.77
  • Resistance 2: RM 0.795
• Stop Loss: RM 0.630
• Target Prices: RM 0.77, 0.795

Technical Analysis

The stock of Optimax Holdings is currently trading at RM 0.675, slightly below its entry price level of RM 0.695. Despite recent fluctuations, the stock has shown resilience, maintaining support at RM 0.630. Technical indicators suggest the potential for an upward movement if the stock can sustain its momentum and approach the resistance levels at RM 0.77 and RM 0.795.

The setup indicates a consolidation phase, where prices have stabilized, and any increase in buying pressure could trigger a breakout. The company’s strong positioning in the healthcare sector and expanding network of eye care centers support its long-term growth potential.

Trading Strategy

Traders may consider initiating long positions at the current price or on pullbacks towards RM 0.695, with a stop loss set at RM 0.630 to mitigate risks. The targets at RM 0.77 and RM 0.795 present opportunities for profit if the stock continues to recover, guided by strong support levels and positive technical signals.

Analyst Comments

Optimax Holdings’ technical setup reflects a stable base, with support and resistance levels providing a clear structure for potential gains. The company’s focus on expanding its eye care services and maintaining high standards of patient care continues to drive investor interest. If the stock can overcome the initial resistance, further upside can be anticipated, making it a promising choice for traders seeking exposure in the healthcare sector.