We expect further upside for Eco World International after it broke out from the 3-week bullish pennant pattern yesterday. With the stock posting a long white candle and closing near its 52-week high, bullish momentum may be present now. A bullish bias may emerge above the RM0.58 level, with a stop-loss set at RM0.52, below the 27 Apr low. Towards the upside, the near-term resistance level is seen at RM0.65, followed by RM0.70.

Entry : RM0.58–0.595

Target : RM0.65, RM0.70

Exit : RM0.52

Source: AmInvest Research - 11 May 2023