Elsoft Research may rise higher after recording a higher close vis-a-vis the previous sessions since 13 Sep. Yesterday’s white candle can be regarded as a continuation of the rebound that started off 12 Sep’s “Hammer” pattern. A bullish bias may emerge above the MYR3.40 level, with an exit set below the MYR3.25 threshold. Towards the upside, the immediate resistance is at MYR3.70. This is followed by the MYR4.00 level.

Source: RHB Securities Research - 19 Sept 2018