KUALA LUMPUR (May 19): RHB Retail Research said Econpile Holdings Bhd may rebound higher after it continued holding above the 49.5 sen support.

In a trading stocks note today, the research house said 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 54 sen level, with an exit set below the 49.5 sen mark.

“Towards the upside, the immediate resistance is at the 63 sen level, followed by the 70.5 sen threshold,” it said.