MR D.I.Y. GroupBhd

• Share price closed 2.88% higher at RM1.43 on Wednesday.

• MR.DIY has experienced a downtrend since reaching its YTD high of RM2.05 in January 2023. Recent share price reached its 52-week low at RM1.37 however, managed to break out from its resistance level of RM1.41 with decent buying momentum yesterday. Fundamentally, MRDIY registered higher revenue and net profit YoY, attribute to an increase in gross profit margin due to a significant reduction in freight costs. MACD is poised for a potential crossover in the near future, thus share price is expected to propel higher.

• Resistance level are identified at RM1.51 (R1) and RM1.53 (R2).

• On the flipside, support levels are pegged at RM1.38 (S1).

Source: Rakuten Research - 10 Aug 2023

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