Econframe rose and touched the RM0.60 resistance level with higher trading volume. With its RSI indicator pointing upwards, coupled with a higher low candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.625, followed by RM0.655. The downside support is marked at RM0.56. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.60

Target: RM0.625, RM0.655 (time frame: 2-4 weeks)

Exit: RM0.56

Source: AmInvest Research - 18 Feb 2021