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Elsoft Research shot up and formed a long white candle in its lastest session. With an RSI level above 70%, it may continue to climb above the resistance price of RM0.95. If this happens, its short-term target price will be RM1.03 followed by RM1.08. Support price is anticipated at RM0.87, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM0.95
Target: RM1.03, RM1.08 (time frame: 3-6 weeks)
Exit: RM0.87
Source: AmInvest Research - 12 Jul 2019

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