Ekovest’s recent pullback appears to have ended, as it rebounded strongly from the critical support yesterday. If this rebound continues and leads to a breakout above the MYR0.55 immediate resistance, it may confirm an uptrend reversal, potentially propelling the stock higher towards the MYR0.60 mark, followed by the 52-week high at MYR0.62. However, a decline below the MYR0.51 support would trigger a downward movement.

Source: RHB Securities Research - 14 Feb 2024