MR D.I.Y. Group (M) surged and tested the RM3.04 resistance level. With its 21-day moving average pointing upwards, coupled with higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM3.19 and RM3.27. The downside support is projected at RM2.89. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy near RM3.04
Target: RM3.19, RM3.27 (time frame: 2-4 weeks)
Exit: RM2.89
Source: AmInvest Research - 11 Dec 2020
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Created by AmInvest | Jul 26, 2024