AmInvest Research Reports

Stocks on Radar - Eco World Development Group (8206)

AmInvest
Publish date: Wed, 07 Aug 2019, 09:07 AM
AmInvest
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Eco World Development printed a long white candle to test the RM0.79 resistance in its latest session. With a rising RSI, there is a possibility it will break above the resistance level and move towards target price of RM0.85 and RM0.91. If it fails to cross above RM0.79, expect a sideway consolidation movement. Support is anticipated at RM0.73, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.79

Target: RM0.85, RM0.91 (time frame: 3-6 weeks)

Exit: RM0.73

Source: AmInvest Research - 7 Aug 2019

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