Stock Picks of the Day: GHL Systems, Econpile Holdings – BusinessToday

GHL Systems

GHL, as cited in RHB Retail Research’s technical analysis report (Dec 27), is poised to initiate a rebound as it bounced off the 21-day SMA line while hitting the MYR0.93 resistance last Friday – this is coupled with improved volumes. If it manages to surpass that level in the coming sessions, the bullish bias above that threshold may propel the stock higher towards the MYR1
psychological level. This will be followed by the next resistance at MYR1.10. Conversely, the counter may reverse direction if it falls below the MYR0.855 support, forming a “lower low” bearish structure below the average line.

Econpile Holdings

This counter is eyeing for a technical breakout, as it attempted to surpass above the MYR0.18 level again last Friday on high trading volumes. If a breakout happens above that level, the stock is likely to jump further towards hitting the MYR0.20 mark and then the MYR0.23 next resistance – its highest level since 31 May. However, the counter may move downwards if it drops below the MYR0.155 support, forming a “lower low” bearish pattern below the 21-day average line.