Elridge Energy is eyeing to stretch the bullish trajectory while testing the immediate resistance. The stock charted a “higher high” white candlestick and closed on the MYR0.44 resistance. If it climbs above the immediate resistance, a bullish bias will emerge. In this case, we expect the counter to attract fresh buying pressure and travel towards MYR0.465, followed by the MYR0.49 level. On the other hand, if it falls below the MYR0.41 support, this will kick-start the correction phase

Source: RHB Securities Research - 28 Oct 2024