EcoFirst eyeing for a technical breakout, says RHB Retail Research

EcoFirst eyeing for a technical breakout, says RHB Retail Research
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KUALA LUMPUR (May 30): RHB Retail Research said EcoFirst Consolidated Bhd is eyeing for a technical breakout as it rebounded from the recent pullback to head towards the 45.5 sen recent high — reclaiming above the 21-day average line.

In a trading stocks note on Monday (May 30), the research house said if the stock manages to surpass that level, the stock’s bullish momentum may persist towards 49 sen, then 55 sen.

“Conversely, the momentum may reverse if it drops below the 39 sen support — drawing a 'lower low' bearish pattern beneath the average line,” it said.