AmInvest Research Reports
Stock on Radar - Eco World Development Group (ECOWLD)
AmInvest
Publish date: Wed, 16 Oct 2024, 09:35 AM
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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 Development Group (ECOWLD | 8206)
Last Price: RM1.87 | Technical Call: BUY
| Support 1: RM1.80 | Resistance 1: RM2.00 |
| Support 2: RM1.68 | Resistance 2: RM2.10 |
| Shariah Compliant: Yes | Sector: Property |
Eco World Development Group broke out from its 3-week bullish flag pattern a few candles back, implying that its previous uptrend may have resumed. The stock's move above the RM1.80 resistance also coincides with a new all-time high, indicating that a bullish outlook can be anticipated here. A bullish bias may emerge above the RM1.80 level with stop-loss set at RM1.66, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM2.00, followed by RM2.10.
Entry: RM1.80-1.87
Target: RM2.00, RM2.10
Exit: RM1.66
Source: AmInvest Research - 16 Oct 2024
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