Econpile Holdings breached the RM0.435 level in its latest session. With a healthy RSI level, a bullish bias may be present above this point with a target price of RM0.50. Meanwhile, it may turn sideways if it dips back below the RM0.435 mark in the near term. In this case, support is anticipated at RM0.405 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM0.435

Target: RM0.50 (time frame: 3-6 weeks)

Exit: RM0.405

Source: AmInvest Research - 10 Jan 2019