Eco World Development Group climbed and touched the RM1.00 resistance level. With its 21-moving average indicator moving upward, coupled with a higher trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM1.05, followed by RM1.13. The downside support is marked at RM0.96. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM1.00

Target: RM1.05, RM1.13 (time frame: 2-4 weeks)

Exit: RM0.96
 

Source: AmInvest Research - 22 Oct 2021