AmInvest Research Reports

Stock on Radar - Eco World Development Group (ECOWLD)

AmInvest
Publish date: Wed, 04 Dec 2024, 09:32 AM
AmInvest
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Eco World Development Group (ECOWLD | 8206)

Last Price: RM1.97 | Technical Call: BUY

Technical chart: ECOWLD

Support 1: RM1.90Resistance 1: RM2.10
Support 2: RM1.80Resistance 2: RM2.20
Shariah Compliant: YesSector: Property

Eco World Development Group may trend higher after it surged to a new 52-week high and closed above the RM1.90 resistance yesterday. With its 20-day and 50-day EMAs starting to trend higher again, additional upside strength may be present in the near term. A bullish bias may emerge above the RM1.90 level with stop-loss set at RM1.78, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM2.10, followed by RM2.20.

Entry: RM1.90-1.97

Target: RM2.10, RM2.20

Exit: RM1.78

 

Source: AmInvest Research - 4 Dec 2024

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