Ecomate Holdings may be heading for a rebound above the consolidation phase of MYR0.51, as it hit that level on improved trading volume yesterday – printing a “higher high” bullish pattern. If it breaches above that level, the positive momentum may propel it towards the resistance of MYR0.555, followed by the MYR0.705 resistance, which would be an all-time high. This expectation will be nullified if it falls below the MYR0.485 support level – below the 21-day average line.

Source: RHB Securities Research - 29 Dec 2021