• Elsoft Research Berhad (Elsoft) is engaged in research, design and development of test, burn-in and application specific embedded system. Elsoft mainly provides test equipment solutions to the semiconductor, optoelectronic and automation industries. Other activities include design and production of specialized machinery and equipment namely material handling equipment and robotic factory automation equipment.
• After retracement from all-time high of RM1.98 on 14 Apr 2015 to recent low of RM1.75, the stock is grossly oversold. Restoration of uptrend is expected as oscillators (RSI, MACD and Slow Stochastics) on hourly and daily charts point to potential reversal to upside. Further upsides are targeted at RM1.88 (Mid-Bollinger band) and RM1.98 (all-time high), with a long-term objective of RM2.12. Immediate supports are pegged at RM1.75 and RM1.71. Cut loss below RM1.68.

Source: Hong Leong Investment Bank Research - 5 May 2015