Mr DIY Group is set to rebound strongly after bouncing off the 21-day SMA line and breaching above the MYR1.57 immediate resistance on improved trading volume. If the breakout sustains, the momentum may drive the stock towards the next resistance at MYR1.70 before it reclaims the next resistance point at MYR1.86. Towards the downside, a breach below the MYR1.48 support will negate the bullish setup, forming a “lower low” bearish pattern below the SMA line.
Source: RHB Securities Research - 12 Oct 2023
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MRDIYCreated by rhbinvest | Oct 02, 2024