Ekovest’s positive momentum is gaining traction as it eyes to extend the upside movement. Observe that the stock is testing the MYR0.46 resistance on strong volume. In the event of a bullish breakout, which crosses above the resistance, this will improve market sentiment. In this case, the stock would travel towards the next resistance pegged at MYR0.50, followed by MYR0.54. Towards the downside, falling below the MYR0.43 support will negate the bullish expectation.

Source: RHB Securities Research - 28 Aug 2023