On the daily chart, MR D.I.Y. GROUP (M) BERHAD (MR.DIY) maintains a strong positive bias and is currently trading above its Moving Averages (MA). This bullish sentiment is reinforced by positive signals in the Moving Average Convergence Divergence (MACD) and a Relative Strength Index (RSI) above the confirmation level, suggesting potential continuity of the upward trend. If this robust momentum persists, MR.DIY could potentially test its previous high at 1.98, with a breakout likely leading to further climbs towards the next resistance level at 2.14. Conversely, in the event of a trend reversal, key support levels to watch are between 1.77 and 1.45. Our research house recommends a BUY call on MR.DIY, with a target price of RM2.30.
 

Source: BIMB Securities Research - 17 Jul 2024