Mr DIY is poised to extend the upside movement after breaching the resistance on high volume.
RHB Retail Research (RHB) in a note today (Sept 26) said the stock has crossed above the 21-day SMA line and closed above the RM2.15 resistance to confirm the bullish setup is in play.
After the breakout, the counter is eyeing to test the next resistance at RM2.30, followed by RM2.45.
On the downside, falling below the RM1.99 support would negate the bullish setup.
MyNews is showing a bullish setup after staging a bullish breakout on strong volume.
The stock has crossed above the RM0.625 resistance and printed a fresh long bullish candlestick, suggesting the underlying momentum is bullish.
Premised on the positive momentum, the counter should travel towards RM0.67, followed by RM0.71.
Meanwhile, falling below the RM0.59 support would resume the correction phase.
