Mr D.I.Y. Group is poised for a technical breakout, as it hit the immediate resistance of MYR3.95 on improved trading volume – forming a “White Marubozu” candlestick. If it manages to surpass that resistance, the bullish momentum may follow through to propel the stock towards the next resistance of the MYR4.14 recent high, followed by MYR4.36 – its historical high. However, this expectation will be cancelled if it falls below the MYR3.81 support level.

Source: RHB Securities Research - 17 Sept 2021