We expect further upside for Ecoscience International after it recouped the previous week’s losses and pushed higher from its RM0.31 low. In view that the 20-day and 50-day EMAs are starting to turn upwards, likely suggesting that bullish momentum is picking up further. A bullish bias may emerge above the RM0.31 level, with a stop-loss set at RM0.29, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM0.35, followed by RM0.37.

Entry : RM0.31–0.33

Target : RM0.35, RM0.37

Exit : RM0.29

Source: AmInvest Research - 27 Oct 2022