KUALA LUMPUR (Dec 8): RHB Retail Research said MR DIY Group Bhd is set to resume its uptrend, as it bounced off the previous breakout level of RM2.05 support yesterday – firming up the “higher low” bullish structure above the 21-day average line.

In a trading stocks note today, the research house said that the bullish bias above that level may push the stock higher to reclaim the recent peak of RM2.20.

“The next resistance is at RM2.35.

“Conversely, the stock may reverse direction towards the average line if it falls below the RM1.97 support, forming a “lower low” bearish structure beneath the average line,” it said.