ELK-Desa Resources may climb higher after posting a long white candle and hitting its new 52-week high. With the 21-day SMA line edging upwards, this also implies a positive sentiment. A bullish bias may emerge above the MYR1.39 level, with an exit set below the MYR1.33 threshold. Towards the upside, the immediate resistance is at MYR1.50. This is followed by the MYR1.60 level.

Source: RHB Securities Research - 11 Mar 2019