Farm Fresh is set to resume its uptrend reversal movement after staging a breakout from the key resistance of MYR1.42 with improved trading volume yesterday.
RHB Retail Research in a note today (Jan 24) said riding on this momentum, the stock should test the immediate resistance pegged at MYR1.50, followed by the next resistance at MYR1.58.
If the stock falls below the MYR1.35 support, this will negate the bullish setup.
Deleum is set to propel higher towards the 52-week high as it rebounded strongly above MYR1.05 following a technical breakout yesterday, backed by strong trading volume.
Coupled with the fresh “higher high” bullish structure, the bulls may drive the stock higher towards the MYR1.13 immediate resistance, followed by the next resistance at MYR1.18, ie the 52-week high.
On the other hand, falling below the MYR1 support will
kick off the correction phase.
