Ekovest may soon move higher to test the resistance level of RM0.50 level. With the RSI swinging abovw 50%, coupled with higher trading volume, we foresee that there could be a technical breakout above the resistance soon. If this happens, the bullish momentum will climb towards the short-term target prices of RM0.53 and RM0.60. In this case, the downside support is anticipated at RM0.45, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.50

Target: RM0.53, RM0.60 (time frame: 3-6 weeks)

Exit: RM0.45

Source: AmInvest Research - 20 Apr 2020