Rakuten Trade Research Reports

Technical View- Elsoft Research Bhd (0090)

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Publish date: Mon, 04 Jan 2021, 04:39 PM
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Elsoft Research Bhd (0090)

• ELSOFT closed 3.9% or 3 sen higher to RM0.795 last Thursday.

• Recent share price movement saw it broke past key resistance level after a period of consolidation supported by higher trading volume. This suggests renewed buying interest and with the stock being one of the laggards within the technology sector, we expect share price to trend higher.

• From here, resistance levels are expected at RM0.83 (R1) and RM0.895 (R2).

• For the downside, support levels are seen at RM0.70 (S1) and RM0.64 (S2)

Source: Rakuten Research - 4 Jan 2021

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