RHB Retail Research

Trading Stocks - Eco World Development Group

rhboskres
Publish date: Tue, 15 Feb 2022, 09:44 AM
rhboskres
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RHB Retail Research

Eco World Development Group is in the midst of continuing its uptrend from a recent pullback, after it bounced off the support. It headed towards the MYR1.00 psychological mark – firming up its “higher low” bullish formation. If it pushes past that level – printing a “higher high” bullish structure – the bulls may drive the stock towards the higher resistance of MYR1.13, followed by MYR1.25. Conversely, falling below the MYR0.95 support will trigger selling pressure and reverse the momentum, as it forms a “lower low” bearish pattern.

Source: RHB Securities Research - 15 Feb 2022

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