KUALA LUMPUR (Feb 2): RHB Retail Research said Ocean Vantage Holdings Bhd may be headed for an uptrend reversal after bouncing off the 21-day simple moving average (SMA) line and testing the immediate resistance of 25 sen on Wednesday on a strong trading volume.

In a trading stocks note on Friday, the research house said that if a breakout above that level happens, the stock may trend northwards further towards the 52-week high of 27.5 sen, followed by the next resistance level of 31 sen.

“Towards the downside, falling below the 22.5 sen support would invalidate the bullish setup, as it would be trading below the 21-day SMA line,” it said.