Eco World Development Group may trend higher after it posted a long positive candle and closed above the RM1.70 resistance yesterday. As the stock also broke out of a 2-week bullish flag pattern, it may see additional strength in the near term. A bullish bias may emerge above the RM1.70 level with stop-loss set at RM1.56, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM1.90, followed by RM2.00.

Entry : RM1.70–1.75

Target : RM1.90, RM2.00

Exit : RM1.56

Source: AmInvest Research - 30 Jul 2024