Rakuten Trade Research Reports

Technical View- Econpile Holdings Bhd

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Publish date: Fri, 04 Dec 2020, 08:55 AM
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Econpile Holdings Bhd (5253)

• ECONBHD rose 5.1% or 2.5 sen to RM0.535 yesterday.

• Share price has been rising on its upward trendline on the back of improving trading volume. Supported by upticks in key momentum indicator, we expect share price to trend higher besides being one of the candidates for the potential construction theme play stocks.

• As such, resistance levels are identified at RM0.575 (R1) and RM0.640 (R2) level.

• On the downside, support levels are set at RM0.510 (S1) and RM0.430 (S2).

Source: Rakuten Research - 10 Dec 2020

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