RHB Retail Research
Trading Stocks - ELK-Desa Resources
ELK-Desa Resources may climb higher after it breached above the MYR1.70 mark. As the 21-day SMA line is likely to turn higher, it would appear that the bullish sentiment has been enhanced. A positive bias may emerge above the MYR1.70 level, with an exit set below the MYR1.63 threshold. Towards the upside, the immediate resistance is at the MYR1.80 mark. This is followed by the MYR1.90 level.
Source: RHB Securities Research - 30 Oct 2019
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