Ecomate Holdings is poised to propel above the recent high of MYR0.52 after bouncing off the 21-day average line last Friday. If a breakout happens above that level, the stock may travel towards the MYR0.555 resiatance, before reaching the MYR0.60 threshold. However, the positive momentum may dissipate if it falls below the MYR0.49 support, trading below the average line.
Source: RHB Securities Research - 17 May 2022
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