Opensys
Bursa OPENSYS (M) BerhadDisclaimer: If you choose to follow this trading idea you do so at your own risk after giving thorough and reasonable thought and consideration to your actions. All trading is high risk and one of the most difficult activities you will ever consider. Don’t trade with money you can’t afford to lose.
OPENSYS - possible limited upside inside descending triangleWe observed the stock has formed a descending triangle structure. Next target probably limited upside (max potential +20% @ 0.640) before making a pullback and drop below support of the structure.
R 0.565, 0.610, 0.640
S 0.505, 0.480
This will be invalid if continues to break support @ 0.505, which break the triangle structure.
Speed: Fast with 169M shares float (38% of 446M shares)
Sentimen: Bullish tech, probably due to its solar online marketplace venture ?
TAYOR
OpenSys BO Pattern AnalysisOpenSys BO Pattern Analysis
Last RD on 9/12, resulting on surmountable selling pressure (Mr. Brahmal disposed 13M shares in open market)
Chart pattern analysis
Current Price: 53.5C
Down-side: 14% (@ 50.5C
Up-side (Pattern): 47% (@ 74C)
Up-side (52W High BO): 73% (@ 87.5C)
FA-wise last 3 qtr's posted increment of profit-revenue from 9%-41% showing that it is recovering from Covid-19 downfall.
Business is always flowing in for OpenSys and due to that they gave out bonus issue for it shareholding on Oct 20 of 2 to 1.
Based on recent news, OpenSys's buySolar gaining traction with big players of RE sector.
If all indicators point north, potential other big players would join in as well but it all depends on Opensys itself to promote their platform.
However, I could not deny that one of their directors trimmed out their shareholdings means something had just happened.
Broken down deals, director taking profits to gear up for another buy up, who knows?.
Nevertheless, chart pattern is obvious and if the trend follows, it will give potential more than 50% upside.
Quite enticing, I know. I'm not giving any buy-calls to my fellow traders but try to dissect this on your own capability.
Anyway, cheers!
Last 3 quarter
Revenue P/L Quarter Q Date Financial Year Announced Net%
23,890k 3,068k 3 2020-09-30 31 Dec, 2020 2020-11-23 41.3%
20,058k 2,574k 2 2020-06-30 31 Dec, 2020 2020-08-24 11%
17,229k 1,666k 1 2020-03-31 31 Dec, 2020 2020-05-18 9%
Data Summary
ROE: 18.47
P/E: 19
EPS: 2.77
DPS: 0.92
NTA 0.1500
Market Cap: 239.1M
Recent News
(09 Dec, 2020)
Samaiden leverages buySolar platform to spur RE market
>Signed a collaborative agreement with Samaiden Group Berhad
(03 Nov, 2020)
OpenSys (M) Bhd aims to register 10 service providers, banking and insurance partners
>Target Dec 2020
(02 Nov, 2020)
OpenSys’ buySolar platform gains traction among industry players
>Signed a collaborative agreement with Solarvest Energy Sdn Bhd
OPENSYS (20/11/2020) towards ATH ?The counter is riding major uptrend channel, and looks like forming an ascending triangle pattern. In H1, it shows a high volume which pushes the price up during last hour Friday (20-Sept), and looks like momentum will continue on Monday with Stochastic crossing up.
Resistance zone is around 0.680-0.715. Breakout of this zone could set OPENSYS to a new ATH journey with TP 0.765, 0.880, 0.975 with RRR 1:1.3. Failed to break 0.680 would bring the price to test support at 0.6 and 0.515.
The stock has small balance float (38% of 446M shares) about the same with its competitor like EFORCE (43% of 615M shares) or OMESTI (29% of 531M shares). This adds some speed factor to its price movement.
TAYOR
OPENSYSSaya dapat saham ni tadi, dan analisis untuk shorterm period. Sekiranya harga break harga 0.620, harga akan pullback to 0.615 sebelum ke lebih atau kurang 0.690 iaitu resistence. Tetapi di dalam analisis saya, saya akan melihat kedudukan kandel 4jam atau sejam untuk melihat price rejection sebelum membuat buy. Kedudukan buyer juga amat menggalakkan. Saya akan lihat pergerakan harga untuk membuat shorterm swing sebelum harga akan ditolak naik. Jangkaan saya dalam mencapai tp dalam 2 hari selepas harga entry.
OPENSYS - Bullish Piercing FormationOPENSYS
Rst: 0.91/ 0.97
Spp: 0.86/ 0.825
Friday sharp bullish piercing formation not necessary will pump continue green candles next week, as the recovery is way too sharp, it will require retest to support at Fibo Ext 50% to 61.8% before thing can get solidify to move ahead.
