RHB Retail Research
Trading Stocks - ELK-Desa Resources
ELK-Desa Resources formed a long white candle, indicating that the momentum of buying could be strong. This close has sent the stock to its new 52-week high, thereby enhancing the positive sentiment. A bullish bias may appear above the MYR1.53 level, with an exit set below the MYR1.48 threshold. Towards the upside, the near-term resistance is at MYR1.60. This is followed by the MYR1.70 level.
Source: RHB Securities Research - 15 Jul 2019
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