RHB Retail Research
Technical Analysis - Elsoft Research
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Elsoft Research’s upside move may persist after it continued holding above the 21-day SMA line. Yesterday’s candle can be viewed as a continuation of the bulls extending the rebound from 6 Jun’s “Hammer” pattern. A bullish bias may appear above the MYR2.60 level, with an exit set below the MYR2.45 threshold. Towards the upside, the near-term resistance is at MYR2.80. This is followed by the MYR3.00 level.
Source: RHB Securities Research - 20 Jun 2018
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