Mr DIY is attemting to extend the upside movement, as it tested the immediate resistance on high volume. After consolidating sideways, the stock rose higher yesterday to test the MYR3.56 resistance. Breaching the immediate threshold would attract further buying interest, and propel the stock towards MYR3.70, followed by MYR3.80. On the flip side, the momentum may lose steam if it falls below the MYR3.45 support.
Source: RHB Securities Research - 6 May 2022
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