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KUALA LUMPUR (July 18): Econpile Holdings Bhd shares rose 2.29% at mid-morning today after RHB Retail Research said Econpile may move higher after it posted a long white candle and breached above the RM2.54 threshold.
At 10.28am, Econpile rose 6 sen to RM2.68 with 165,000 shares traded.
In a trading stocks note today, the research house said with the 21-day SMA line edging upwards, this suggests a likelihood of increasing demand in the near term.
"A bullish bias may appear above the RM2.54 level, with an exit set below the RM2.37 threshold.
"Towards the upside, the immediate resistance level is seen at RM3.00. This is followed by the RM3.50 level," it said. — theedgemarkets.com
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