Ekovest is set to resume its bullish momentum as it bounced off the 21-day average line while reclaiming the area above the immediate resistance of MYR0.47, on strong volume. Renewed buying interest above that level is expected to advance the stock towards the MYR0.505 resistance, followed by MYR0.53 – the highest point since Mar 2021. Meanwhile, a drop below the MYR0.445 support may trigger the resumption of a downward correction, below the average line.

Source: RHB Securities Research - 28 Apr 2022