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PublicInvest Research

Author: PublicInvest   |   Latest post: Mon, 21 Oct 2019, 9:38 AM

 

Technical Buy - ELSOFT (0090)

Author:   |    Publish date:


  • Target Price: RM0.980, RM1.04
  • Last closing price: RM0.920
  • Potential return: 6.5%, 13.0%
  • Support: RM0.885
  • Stop Loss: RM0.870

Possible for upside. Opening up a new uptrend channel, ELSOFT is staging for potential turnaround from its prior pullback. Improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term. Should resistance level of RM0.940 be broken, it may continue to lift price higher to subsequent resistance levels of RM0.980 and RM1.04.

However, failure to hold on to support level of RM0.885 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 23 Sept 2019

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Labels: ELSOFT

Related Stocks

Chart Stock Name Last Change Volume 
ELSOFT 1.03 +0.035 (3.52%) 3,388,000 

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