Econpile Holdings Bhd 

• Share price closed 12.50% higher at RM0.315 on Thursday.

• ECONBHD has been on an uptrend and reached its 52-week high of RM0.33 at the end of Aug-23. Itbroke through its resistance threshold at RM0.31 with a spike in buying momentum yesterday. It is currently trending above all of its MA lines and the MACD is poised for a potential crossover in the near term. Thus, share price is expected to move higher.

• Resistance levels are identified at RM0.315 (R1) and RM0.33 (R2).

• On the flipside, support levels are pegged at RM0.28 (S1) and RM0.275 (S2).

Source: Rakuten Research - 6 Oct 2023

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