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ELSOFT TECHNICAL ANALYSIS

MYX:ELSOFT   ELSOFT RESEARCH BHD
Technical analysis for ELSOFT Stock based on Trend Analysis, Chart Pattern and VPA

Comment: Target Profit reached as per technical analysis.
*Monthly TF: October candle has break the major trendline indicate uptrend momentum will continue, however the long bullish price candle move higher with weak volume-signal anomaly give indication the possibility of healthy price retracement to happen.
*Weekly TF: Current weekly candle show strong bullish price action break the immediate resistance validate by high volume signal healthy bullish. However there is upper wick indicate selling pressure occur in the price action
*Daily TF: Today bullish candle break the immediate support with high volume, volume validate the price candle. Significant upper wick indicate significant selling pressure. Healthy price retracement may occur.