KUALA LUMPUR (Sept 19): RHB Retail Research said Elsoft Research Bhd may rise higher after recording a higher close vis-a-vis the previous sessions since Sept 13.

In a trading stocks note today, the research house said yesterday’s white candle can be regarded as a continuation of the rebound that started off Sept 12’s “Hammer” pattern.

“A bullish bias may emerge above the RM3.40 level, with an exit set below the RM3.25 threshold.

“Towards the upside, the immediate resistance is at RM3.70. This is followed by the RM4.00 level,” it said.