Econframe rose and is poised to hit the RM0.48 resistance level. With its 21-day moving average pointing upward, 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 RM0.50, followed by RM0.515. The downside support is marked at RM0.445. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.48

Target: RM0.50, RM0.515 (time frame: 2-4 weeks)

Exit: RM0.445
 

Source: AmInvest Research - 15 Sept 2021