RHB Investment Research Reports
Trading Stocks - Eco World Development’s
rhbinvest
Publish date: Tue, 30 Jul 2024, 09:44 AM
rhbinvest
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An official blog in I3investor to publish research reports provided by RHB Research team.
All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com
RHB Investment Bank Bhd
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Jalan Tun Razak
Kuala Lumpur
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Fax : +(60) 3 9200 2216
All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com
RHB Investment Bank Bhd
Level 3A, Tower One, RHB Centre
Jalan Tun Razak
Kuala Lumpur
Malaysia
Tel : +(60) 3 9280 8888
Fax : +(60) 3 9200 2216
Eco World Development’s uptrend may be extended, and the stock could test the immediate resistance on high volume. That said, a strong resistance has formed at the MYR1.75 level. If the stock climbs above this point, a bullish bias will emerge. In this case, the renewed momentum should propel the stock towards the next resistance of MYR1.90, followed by MYR2.10. Breaching below the MYR1.55 support will kick off a correction phase.
Source: RHB Securities Research - 30 Jul 2024
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