KUALA LUMPUR (Dec 12): RHB Retail Research said Elsoft Research Bhd may rebound further after it tested the RM1.13 support recently.
In its trading stocks note today, the research house said given that the stock has formed a “Bullish Harami” pattern on 11 Dec, this indicates a potential rebound.
“A bullish bias may appear above the RM1.13 level, with an exit set below the RM1.13 threshold.
“Towards the upside, the near-term resistance is at RM1.23. This is followed by the RM1.30 level,” it said.