Eco World Development Group has rebounded from its low to test the immediate resistance level of RM0.685. With a moderate RSI, a bullish bias may be present above this mark with target prices of RM0.735 and RM0.78. Meanwhile, it may continue moving sideways if it fails to cross RM0.685 in the near term. Immediate support is anticipated at RM0.635, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.685

Target: RM0.735, RM0.78 (time frame: 3-6 weeks)

Exit: RM0.635

Source: AmInvest Research - 12 Sept 2019