MR DIY
MR DIY is in the midst of a consolidation, and eyeing a technical breakout. The stock underwent a sharp correction but rebounded lately as selling pressure is tapering down. If it breaks past the immediate resistance of MYR2.10, a bullish bias should emerge. It should then travel towards MYR2.18, followed by MYR2.25. On the flip side, breaching below the MYR2.00
psychological support would indicate that the bears have regained the control – and traders should then expect the resumption of a downside correction.
Cnergenz
This counter is attempting to stage a technical rebound as it is oversold now. Note that the trading volume has been tapering recently, which suggests that the selling pressure is easing. In the event that it jumps above the MYR0.47 resistance, a bullish bias will emerge. The ensuing follow-through momentum should then lift it towards MYR0.495, followed by MYR0.52. On the other hand, falling below the support point of MYR0.435 would mean that the bears are still in control, and the stock
should undergo a further correction.
