Eco World International is in the midst of a rebound following a recent correction as it rebounded above the 21-day SMA line while breaching above the MYR0.315 immediate resistance level on higher trading volume. If the breakout is sustained, the uptrend rebound will likely lead to the stock climbing towards the immediate resistance of MYR0.335, then MYR0.375. However, falling below the MYR0.30 support – forming a “lower low” bearish pattern – may trigger a downtrend.

Source: RHB Securities Research - 11 Jan 2024