RHB Retail Research
Trading Stocks - Eco World Development Group
Eco World Development Group marked the beginning of a reversal as it moved above its sideways consolidation phase on strong volume yesterday. Additionally, a “higher high” pattern formed above the 21-day SMA line yesterday. Hence, the bullish bias is expected to stay above the MYR0.65 immediate support level before attempting the next resistance levels of MYR0.68 and MYR0.74. A fall below the MYR0.63 support level may change this momentum.
Source: RHB Securities Research - 19 May 2021
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