Elsoft Research may rebound further after it tested the MYR1.00 support in its latest session. Given that the stock has formed a “Hammer” pattern on 21 Dec, this indicates a potential rebound. A bullish bias may appear above the MYR1.05 level, with an exit set below the MYR1.00 threshold. Towards the upside, the near-term resistance is at MYR1.13. This is followed by the MYR1.20 level.

Source: RHB Securities Research - 24 Dec 2018