Trading Idea - Eco World Development Group Berhad Upside Target 6.60

Trading Idea - Eco World Development Group Berhad, Upside Target MYR 6.60

chinesetea
Publish date: Thu, 09 Jan 2014, 05:25 PM
chinesetea
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ECOWLD 8206.KL 
 
Maybank Kim Eng 
 
 
 
Market Commentary 
• ECW’s recent move took the shape of a firm weekly 
Elliott Wave 2 rise from its Oct 2011 Wave 2 low of 
MYR0.20 to its all-time high of MYR4.85 (Jan 2014). 
 
• Compared with the movements of the FBMKLCI, this 
stock has outperformed significantly against the 
relatively volatile tone of the index. A break above 
MYR4.85 (its all-time high and resistance) would 
spell further upside for the stock. 
 
• Support areas are very firm, while minor selling at 
its resistance level may cap its rise. There are very 
bullish signals (like the weekly CCI, DMI, MACD, 
Stochastic and Oscillator), denoting further strong 
upside for ECW. 
 
• 18 and 40 simple moving averages (SMA) also depict 
a very strong triple timeframe uptrend for the daily, 
weekly and monthly charts. 
 
• Therefore, the chart evidence suggests that 
investors have been buying this Malaysian stock 
heavily over the last 27 months. Investors will 
continue buying ECW on dips. 
 
 
 
 
 
Source http://research.maybank-ib.com/pdf/documentrg/TT_090114_3427.pdf

 

Discussions
Be the first to like this. Showing 4 of 4 comments

tewnama

Bagus bro. TP RM6.60. best lah

2014-01-09 17:59

OneMillion

sure or not, 6.60, don't simply tembak,smile : )

2014-01-09 20:30

tewnama

Tak tahu lah. Tapi bila harga itu sudah sampai, kamu akan tanya boleh masuk lagi kah?

2014-01-09 20:32

matrix6050

boleh masuk lagi kah ? XD

2014-04-08 18:53

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