DPI Holdings is poised for a technical breakout after it surged on strong volume yesterday. Together with a “higher low” price pattern formed above the 21-day SMA line, the positive momentum will persist if it manages to break above MYR0.61 – the immediate resistance. If that happens, the stock may travel towards the next resistance of MYR0.635 before moving higher to the MYR0.685 hurdle. This expectation would be reversed if it drops below the MYR0.55 support level.

Source: RHB Securities Research - 11 Jun 2021