AmInvest Research Reports
Stock on Radar - Eco World Development
AmInvest
Publish date: Mon, 20 May 2024, 10:35 AM
AmInvest
0 9,365
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
We expect further upside for Eco World Development after posting a long positive candle and closed near its multi-year high on Friday. The stock’s move above the RM1.50 psychological mark coupled with rising EMAs indicate that the near term upward momentum may persist. A bullish bias may emerge above the RM1.52 level with stop-loss set at RM1.38, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM1.70, followed by RM1.80.
Entry : RM1.52–1.56
Target : RM1.70, RM1.80
Exit : RM1.38
Source: AmInvest Research - 20 May 2024
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