Eco World International may trend higher after it broke above the RM0.60 resistance and hit a new 52-week high yesterday. Given that the stock has broken out from the 6-week bullish ascending triangle formation as well, the resumption of its previous  uptrend may be taking place now. A bullish bias may emerge above the RM0.60 level, with stop-loss set at RM0.55, below the  20-day EMA. Towards the upside, near-term resistance level is seen at RM0.65, followed by RM0.70.

Entry : RM0.60–0.61

Target : RM0.65, RM0.70

Exit : RM0.55

Source: AmInvest Research - 30 May 2023