ELSOFT
Rst: 0.685
Spp: 0.635
Bullish engulfing formation, confirming breakout from descending wedge, surging RSI and bullish MACD crossover will induce further strength for the stock. Immediate resistance is right at Fibo Extension 23.6% or upper BB.
A bullish flag pattern appeared, as we can see on the chart.
First TP : 0.74 (previous resistant point)
If price break 0.74 with high volume,
Second TP : 0.8.
First support : 0.66
second support : 0.62
Can cut loss at either 1st or 2nd support level.
No buy or sell call was given. Buy at own risk :)
Life is simple...Trade with Simplicity!
BUY Signal = (BT-Yellow-Diamond), (White-Candle), (Green-Upward-Triangle), (White-Star)
SELL Signal = (Red-Dot), Red-Downward-Triangle)
*The trend direction: Reversal (Green background Uptrend signal observed)
*The Bottom signal ( BT ) was sighted on 24-Dec.
*Price tested the lifeline (Redline) & close above it on...
Thank you for your continued support :)
Strategy: Price-Volume Analysis
Re-look. Covered and traded earlier. Congrats students from private group who followed and profited earlier.
Bias: Bullish. After a gap up breakout of the consolidation zone 4 days ago, ELSOFT experienced pull back with diminished volume. After T3 pull back, share price is likely to find it...
Thank you for your continued support :)
Strategy: Bullish Chart Pattern Formation
Bias: Bullish. ELSOFT, W-shaped bottom well formed with volume today, neckline at RM0.855. W-shaped bottom is a potential trend reversal pattern, which will revere the current unfavorable trend. Furthermore, ELSOFT share price breakout from a short term downtrend line with volume...
1. Stock Break Down Trend Line.
2. Was Above EMA50
3. Stock Make New LH and HH.
4. Always Bound Above Upright Trend Line.
5. Good FA
Reward = 12%
Risk = 6%
Good entry since ration 1:2 to reward.
Good Luck.
Background
Elsoft Research Berhad ('Elsoft') is involved in the research, design and development of test and burn-in systems and application-specific embedded systems. It provides products for semiconductor, opto-electronic (such as image sensors) and automation industries (such as lighting).
Recent Financial Performance
In QE30/9/2018, Elsoft's net profit...
