Sector: Technology

Analysed on 15/08/21

DUFU has been bearish recently and dropped further to below EMA50 this week. Both EMA25 and EMA50 are sloping downwards indicate that DUFU could be on a downtrend rally, which is further confirmed by the formation of lower highs and lower lows pattern. DUFU is currently trading at RM4.350, with immediate resistance at RM4.390 and immediate support at RM4.160.

Looking at the Quarter Report released by DUFU early this month, they are seeing strong visibility of orders for the second half of 2021 from existing and new customers, which should contribute positively towards the Group’s earnings. From the perspective of Technical Analysis, we are in the opinion that the share price needs to climb to above EMA25/50 to in order to regain the uptrend momentum. Investor who is interest in DUFU can take the support levels as reference for entry point. It is advised to trade with TIGHT CUT LOSS as Technical Indicators suggest that it is currently weak.

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NOTT INVEST 

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