![](/pub/blog/bl24/5253_20231102094429.png)
Econpile Holdings Bhd (ECONBHD, 5253)
- ECONBHD underwent a 27% corrective decline after reaching its peak at RM0.395 in mid-Oct. Thecurrent share price is showing signs of bottoming out, suggesting a potential reversal of the downtrend. Coupled with its MACD trend up above the zero line, indicating that the uptrend remains intact. RSI also has moved into oversold territory, hinting at a possible resurgence in buying interest.
- Potential upside towards the RM0.33 to RM0.35 range upon a successful breakout above theimmediate resistance at EMA 50 line (RM0.30).
- On the downside, stop-loss is set at RM0.265, below 14 Sept’s low.
![](/pub/blog/bl24/5253data_20231102094437.png)
Source: Rakuten Research - 2 Nov 2023
To sign up for an account: http://bit.ly/40BNqKI
[Youtube Tutorial] Account Opening & Enable Foreign Equity: http://bit.ly/3I5Jzxo