KUALA LUMPUR (Sept 23): PublicInvest Research said Elsoft Research Bhd is staging for potential turnaround from its prior pullback.

In a trading ideas note today, the research house said improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term.

“Should resistance level of 94 sen be broken, it may continue to lift price higher to subsequent resistance levels of 98 sen and RM1.04.

“However, failure to hold on to support level of 88.5 sen may indicate weakness in the share price and hence, a cut-loss signal,” it said.