ELK-Desa Resources may rise higher after posting a long white candle and hitting its new 52-week high. With the 21-day SMA line edging upwards, this suggests a likelihood of increasing demand in the near term. A bullish bias may appear above the MYR1.35 level, with an exit set below the MYR1.30 threshold. Towards the upside, the near-term resistance is at MYR1.45. This is followed by the MYR1.50 level.
Source: RHB Securities Research - 5 Mar 2019
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Created by rhboskres | Aug 26, 2024