Rakuten Trade Research Reports

Technical View - Eco World Development Group Bhd (ECOWLD, 8206)

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Publish date: Mon, 03 Aug 2020, 05:26 PM
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Eco World Development Group Bhd (8206)

• ECOWLD gained 3.6% or 1.5 sen higher to RM0.435 last Friday.

• Last Friday’s active movements suggest renewed buying interest after a period of consolidation further supported by higher-than-average trading volume. Additionally, key technical indicator also suggests positive signs and thus share price could likely to trend higher.

• As such, resistance levels are identified at RM0.50 (R1) and RM0.56 (R2).

• Conversely, support levels are seen at RM0.40 (S1) and RM0.35 (S2).

Source: Rakuten Research - 3 Aug 2020

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