Eco World Development Group may trend higher after it posted a long positive candle and closed above the RM1.70 resistance yesterday. As the stock also broke out of a 2-week bullish flag pattern, it may see additional strength in the near term. A bullish bias may emerge above the RM1.70 level with stop-loss set at RM1.56, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM1.90, followed by RM2.00.
Entry : RM1.70–1.75
Target : RM1.90, RM2.00
Exit : RM1.56
Source: AmInvest Research - 30 Jul 2024
Chart | Stock Name | Last | Change | Volume |
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Created by AmInvest | Sep 06, 2024
Created by AmInvest | Sep 05, 2024