ECA Integrated Solution is eyeing a technical rebound after attempting to close above the MYR0.42 consolidation phase yesterday. If it manages to climb above this phase, the stock may rebound higher towards the MYR0.48 recent high, followed by the MYR0.55 next resistance. However, falling below the MYR0.385 support reverses the momentum, as the counter will be trading below the SMA line and forming a "lower low" bearish structure.
Source: RHB Securities Research - 16 May 2024
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