MR D.I.Y. Group (MRDIY | 5296)

Last Price: RM2.17 | Technical Call: BUY

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