D&O Green Technologies Bhd (D&O, 7204)

• D&O closed 12.4% or 48 sen higher to RM4.35 yesterday.

• Share price may have found its support now after the selling pressure from high of RM5.10. Yesterday’s move marks a strong closing at intra-day high with resistance breakout. The bounced off of RSI from near oversold region also added positive sign to the buying interest and hence share price is expected to move higher.

• Resistance levels are projected at RM4.65 (R1) and further to RM4.96 (R2).

• For downside support, support levels are at RM3.88 (S1) and next at RM3.83 (S2).

Source: Rakuten Research - 19 May 2021