Econpile Holdings Bhd

• Econpile's share price dipped 35 4% post GE14 pushing the stock to an oversold position which is likely due for a technical rebound.
• Immediate resistance is seen at M0.73 (R1) with support at RM0.65 (S1)
• Fundamentals remain intact as prevailing negative sentiments towards construction stocks should subside.
• The overly pessimistic outlook on the stock is unjustified, the price fall represents an opportunity to rebuild position in the stock.

Source: Rakuten Research - 23 May 2018