Eye On Stock: Ekovest
EKOVEST Bhd 
(code: 8877) has challenged the 50-day simple moving average (SMA) for the first time since Sept 3, when a sharp selldown extended its downtrend.
The stock’s intra-day high of 47.5 sen met the 50-day SMA but it was unable to confirm a crossing by market close. Nevertheless, it is a positive development for the counter and indicates improving sentiment.
Ekovest had ended 2018 on a sour note, having set out at a year’s high of RM1.18 in the second week of January but descended to a dismal year-end low of 43.5 sen. This represented a 63% loss over the period.
However, the 43.5-sen mark has showed to be a stiff support for the counter, remaining mostly intact for the duration of December.
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| EKOVEST | 0.450 |
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