DoorFrame

Daily Charting – EFRAME (Technical Buy)

Waller
Publish date: Tue, 24 Dec 2024, 03:19 PM

ECONFRAME BERHAD (EFRAME) closed at RM0.575 yesterday, maintaining well above its key support levels of RM0.570 (S1) and RM0.530 (S2) respectively, complimented by consistent trading volume. We identified a triple bottom pattern for the company followed by a consolidation pattern, which Bollinger Band too, sees a narrowing, together with our proprietary MACD indicator. We urge investors to build position at the current level while waiting for a confirmation breakout of RM0.590 (R1) before adding more position.

Maintained ‘BUY’ rating for ECONFRAME BERHAD.

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