Possible for sideways breakout. ELSOFT is potentially staging a breakoutfrom its sideways breakout, with anticipation of continuous improvement in bothmomentum and trend in the near term. Should immediate resistance level ofRM0.595 be broken with renewed buying interest, it may continue to lift pricehigher to subsequent resistance level of RM0.625.
However, failure to hold on to support level of RM0.535 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 24 Apr 2024
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Created by PublicInvest | Dec 19, 2024