RHB Retail Research
Trading Stocks - Ecomate
Ecomate is attempting to break away from the consolidation zone. Observe that the stock has been moving sideways lately pending an upside breakout. If it breaches the MYR0.55 immediate resistance, a bullish bias will emerge. This may then lift it towards the next resistance at MYR0.59, followed by MYR0.62. On the other hand, falling below the MYR0.51 support may see a downside correction.
Source: RHB Securities Research - 25 Nov 2021
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