Elsoft Research Bhd (0090)

• ELSOFT rose 3 sen or 3.03% to RM1.02 yesterday.

• Share price has broken its key 200-day moving averages of late and is trading above all leading moving averages. The pick-up of recent trading volume could suggest renewed buying interest on the stock, potentially moving share price to higher level.

• Resistance levels are expected at RM1.10 (R1) and further to RM1.22 (R2).

• On the flip side, strong support levels can be found at RM0.90 (S1) and RM0.86 (S2).

Source: Rakuten Research - 8 Oct 2019