RHB Retail Research: Econpile may rebound higher

RHB Retail Research says Econpile Holdings Bhd may rebound higher after it continued holding above the MYR0.495 support.

In a trading note, the research house says given that it has formed a long white candle above the rising 21-day SMA line, this is a positive sign.

“An upbeat bias may emerge above the MYR0.54 level, with an exit set below the MYR0.495 mark.

“Towards the upside, the immediate resistance is at the MYR0.63 level, followed by the MYR0.705 threshold,” it says

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