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Daily Charting – EFRAME (Technical Buy)

Daily Charting – EFRAME (Technical Buy)
ECONFRAME BERHAD (EFRAME) closed at RM0.575 yesterday, maintaining well above its key support levels of RM0.570 (S1) and RM0.530 (S2) respectively, complimented by consistent trading volume. We identified a triple bottom pattern for the company followed by a consolidation pattern, which Bollinger Band too, sees a narrowing, together with our proprietary MACD indicator. We urge investors to build position at the current level while waiting for a confirmation breakout of RM0.590 (R1) before adding more position.
Maintained ‘BUY’ rating for ECONFRAME BERHAD.
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