ECOWLD

Sector: Property

Analysed on 31/10/2021

ECOWORLD managed to trade at year high (RM 1.25) on last Thursday. We believe the surge is potentially due to speculation on Budget 2022. ECOWORLD retraced a bit and closed at RM 1.02 on last Friday with immediate resistance and support at RM 1.25 and RM 1.00 respectively. There is no sign of retracement at the moment as EMA 25 stayed above EMA 50 and both EMA 25 & EMA 50 are still trending upward. For short term position, Investors shall exercise caution if the immediate support is broken.

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