Thursday, July 31st, 2025

Bullish Momentum Emerging: DFI Retail Group Holdings Ltd Breaks Long-Term Downtrend

Date: October 8, 2024
Broker: CGS International Securities Pte. Ltd.


Company Overview
DFI Retail Group Holdings Ltd operates as a holding company focused on retail businesses. Through its subsidiaries, the company runs a range of retail formats, including supermarkets, drugstores, and convenience stores, catering to customers across Asia.


Stock Performance and Technical Analysis
DFI Retail Group Holdings Ltd is experiencing a bullish trend, which is at an early stage. The stock has recently broken out of a long-term downtrend, signaling potential growth ahead. The following key technical indicators support this positive momentum:

  1. Trendline Break:

    • The stock has broken out of a long-term downtrend line and mid-term range, followed by the formation of higher highs and higher lows, which indicates an upward trajectory.
  2. Ichimoku Indicators:

    • Prices are trending above all Ichimoku indicators, reinforcing the bullish momentum.
  3. MACD Indicator:

    • The MACD/Signal line has performed a crossover at the bottom, with a positive histogram indicating strong upward momentum.
  4. Stochastic Oscillator:

    • The oscillator remains range-bound above the 80-line, which suggests that momentum is still sustaining.
  5. Rate of Change (ROC):

    • The 23-period ROC is rising and has rebounded above the zero line, signaling positive momentum.
  6. Directional Movement Index:

    • The bullish strength signal from the directional movement index remains valid, further indicating upward movement.
  7. Volume Trends:

    • There has been healthy expansion in trading volume, supporting the price movement.

Price Levels and Targets

  • Entry Prices: 2.30, 2.10, 1.86
  • Support Levels:
    • Support 1: 2.10
    • Support 2: 1.84
  • Stop Loss: 1.68
  • Resistance Levels:
    • Resistance 1: 2.35
    • Resistance 2: 2.76
  • Target Prices:
    • Target 1: 2.68
    • Target 2: 2.75
    • Target 3: 3.08
    • Target 4: 3.30

Technical Snapshot Summary
DFI Retail Group Holdings Ltd is seeing a significant upside breakout, supported by strong bullish price action. Key technical indicators, such as the MACD crossover, rising ROC, and sustained momentum from the stochastic oscillator, provide a strong foundation for continued growth. Additionally, increasing volume confirms the potential for a sustained upward trend.


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