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KUALA LUMPUR (July 14): RHB Retail Research said MR DIY Group Bhd is in the midst of a consolidation, and eyeing a technical breakout.
In a trading stocks note today, the research house said the stock underwent a sharp correction but rebounded lately as selling pressure is tapering down.
“If it breaks past the immediate resistance of RM2.10, a bullish bias should emerge.
“It should then travel towards RM2.18, followed by RM2.25.
“On the flip side, breaching below the RM2.00 psychologcial support would indicate that the bears have regained the control – and traders should then expect the resumption of a downside correction,” it said.
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