MRDIY

Sector: Consumer Products & Services

Analyzed on 22/8/2021

Many did not have high hope on MRDIY when it listed in Q4 of last year. But it turned out that MRDIY has rallied more than one-fold since its IPO to reach a peak of RM4.25 before gradually retracing for four months. In June 2021, MRDIY was even included as one of the 30 constituents of the FTSE Bursa Malaysia KLCI to replace rubber glove maker Supermax Corporation Bhd.

MRDIY share price has been trading in an uptrend channel, followed by a consolidation/ downtrend channel. Right after its recent earnings released in early August, MRDIY was very bullish as it broke out from its EMA25/50. The three-consecutive long-bodied candlesticks are called the ‘Three White Soldiers’ which means the reversal of the current downtrend in a pricing chart. With EMA25/50 golden crossing close to happening, we expect MRDIY to begin another uptrend to challenge its previous high.

 Reason to monitor: Breakout from downtrend channel

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NOTT INVEST 

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