AmInvest Research Reports
Stock on Radar - Eco World International
AmInvest
Publish date: Tue, 30 May 2023, 08:59 AM
AmInvest
0 8,763
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
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
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