KUALA LUMPUR: Shares in Sedania Innovator Bhd continued to attract investors’ interest in early trade today.

       The counter added 5.26%, or four sen to 80 sen with over 6.1 million shares done. Year-to-date, it has risen a whopping 451%.

       RHB Research said Sedania is poised to extend its technical rebound, as it bounced off the recent low and tested the 21-day SMA line on strong volume recently.

       “If it manages to break through the 80.5 sen resistance level, a bullish bias may emerge again, lifting the stock towards the next resistance of 87 sen followed by 95 sen.

       “Conversely, if the stock falls below the 71 sen support level, the trend may reverse towards its recent low,” it said.

       Last week, Sedania said its unit has received a long overdue payment amounting to RM1.5mil from a party as full and final settlement.

       It said Sedania Technologies Sdn Bhd had filed a civil litigation suit against a party for non-payment of long outstanding debt in November 2019.

       In August 2020, the company won and received judgment in its favour.

       In addition, Sedania was also reported to be building its eSports associate company to become Malaysia’s first unicorn in three years.

       Founder and MD Datuk Azrin Mohd Noor was reported as saying Sedania will take a “step by step” approach to build Esports Players League (ESPL), the group’s eSports arm, towards the US$1bil (RM4.16bil) valuation.