Dufu Technology Corp is likely to retest its historical high after breaking above the immediate resistance yesterday on rising volume. The stock has been rallying for the past five weeks from forming “higher lows” patterns. If it manages to stay above the MYR4.24 resistance-turned-support level, it may head towards the next resistance of MYR4.48, followed by MYR4.60. Meanwhile, if the stock falls below the MYR4.10 level, this expectation would be reversed.

Source: RHB Securities Research - 23 Apr 2021