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

• Share price closed 6.0% higher at RM4.76 on Wednesday.

• D&O has broken out from its downtrend line recently and managed to close above its MA50 for the first trading day yesterday. It is trading above both MA20 and MA50 currently.

• Coupled with upticks in its indicators and double bottom within MACD divergence, we anticipate the share price to continue its rebounding trend.

• Resistance levels are identified at RM4.94 (R1) and RM5.35 (R2).

• On the flipside, support levels are pegged at RM4.50 (S1) and RM3.35 (S2).

Source: Rakuten Research - 24 Mar 2022