AmInvest Research Reports

Stock on Radar - MR D.I.Y. Group (MRDIY)

AmInvest
Publish date: Thu, 26 Sep 2024, 09:48 AM
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MR D.I.Y. Group (MRDIY | 5296)

Last Price: RM2.17 | Technical Call: BUY

Technical chart: MRDIY

Support 1: RM2.15Resistance 1: RM2.40
Support 2: RM2.00Resistance 2: RM2.60
Shariah Compliant: YesSector: Consumer

MR D.I.Y. Group may trend higher after it surged to a new 52-week high and closed above the RM2.15 resistance albeit marginally yesterday. The stock also posted two long positive candles in a row and its 20-day EMA is starting to turn upward, likely suggesting that buying momentum is picking up further. A bullish bias may emerge above the RM2.15 level with stop-loss set at RM1.98, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM2.40, followed by RM2.60.

Entry: RM2.15-2.17

Target: RM2.40, RM2.60

Exit: RM1.98

 

Source: AmInvest Research - 26 Sep 2024

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