RHB Retail Research: Elsoft Research may rise higher

RHB Retail Research says Elsoft Research may rise higher after it breached above the MYR0.625 threshold.

In a trading note, the research house says as the 21-day SMA line is likely to turn higher, the bullish sentiment has been enhanced.

“An upbeat bias may emerge above the MYR0.625 level, with an exit set below the MYR0.56 mark.

Towards the upside, the immediate resistance is at the MYR0.705 level, followed by the MYR0.765 threshold,” it says.

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