ELSOFT – MYR1.90 (Stock Code: 0090)
Recommendation
ELSOFT made a minor daily Wave 4 low of MYR1.64 (18 March 2015) with grossly oversold and bullish signals. All of its positive signals above suggest a very strong daily uptrend. It is likely to break into higher territory, as it breached its key resistance areas in a very clear Wave 5 surge.
SHORT-TERM BUY (TECHNICAL) on dips for ELSOFT with very firm supports of MYR1.65 and MYR1.90 as well as clear upward target areas of MYR2.00, MYR2.19 and MYR2.85. Stop-loss is at MYR1.63.
Elsoft Research Berhad (ELSOFT) researches, designs, and develops test and burn-in systems and applications specific systems. The company's products and services include advanced electronics system design, systems software engineering and algorithm development, and optoelectronic/semiconductor parametric testers.
by Maybank IB
