Elsoft Research is poised to move higher as it attempted to cross the immediate resistance on surging volume yesterday. A bullish bias should emerge if it breaches above the nearest resistance level of MYR0.815. If this happens, the positive momentum may propel the stock towards the next resistance of MYR0.90, then MYR1.00. Meanwhile, if the stock drops below the MYR0.75 support level, this anticipation will no longer be valid.

Source: RHB Securities Research - 14 Jul 2021