Mr D.I.Y. Group (M) Bhd (MRDIY, 5296)

• Share price closed 0.63% higher at RM1.60 on last Friday.

• MRDIY has been under some selling pressure for the past 3 months as share price hit its 52-week low at RM1.52. Profit taking was seen after the release of its commendable 1QFY23 results. Coupled with indicators which are showing uptick momentum, share price is expected to trend higher over the longer term.

• Resistance levels are identified at RM1.63 (R1) and RM1.66 (R2).

• On the flipside, support levels are pegged at RM1.57 (S1) and RM1.55 (S2).

Source: Rakuten Research - 15 May 2023

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