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Elridge Energy is consolidating constructively above key support, with a slightly bullish bias as long as 0.99 holds. A break above 1.04 would likely signal the start of the next upward leg, with 1.17 as the next technical objective.
The rising trendline and the RM0.97–RM0.98 area form an important support zone to monitor. Holding above this region keeps the bullish structure valid.
Urusharta Jamaah Sdn Bhd, a Minister of Finance Inc-controlled entity, has increased its shareholding in Elridge Energy Holdings Bhd by acquiring 5.93 million shares, raising its total stake in the manufacturer and trader of biomass fuel products to 127.9 million shares, or 6.39%.
Elridge Energy Holdings Berhad (ELRIDGE) continues to display a technically constructive structure despite the recent pause in momentum. After a strong rally from the RM0.70 region, the stock has transitioned into a healthy consolidation phase just below the RM1.03–RM1.05 resistance zone, suggesting digestion of prior gains rather than a trend reversal.
