British American Tobacco (M) Bhd
rallied for a second straight day yesterday as trading volume rose to its highest in five weeks.The counter rose off its lowest point in recent memory to embark on a rebound.The technical indicators are supporting further price growth with the slow-stochastic at 74 points and the 14-day relative strength index (RSI) at 63 points.However, short of breaking past the 100-day simple moving average (SMA) overhead, the share runs the risk of consolidating below the resistance of RM9.80.Support is pegged to the recent low of RM8.88.
Farm Fresh Bhd made a bullish breach of the 200-day SMA line yesterday as its short-term uptrend accelerated.The share is now looking higher towards the RM1.50 resistance and the RM1.65 hurdle even further ahead.The ascending SMA lines are painting a positive picture while the technical indices remain robust, albeit a little overbought.The slow-stochastic is looking to turn higher once again as it sits atop the overbought line at 80 points.Meanwhile, the RSI remains on an uptrend in overbought conditions at 83 points.Support for the share is found at RM1.25 and RM1.16.
Leong Hup International Bhd has been in consolidation mode over the past week, but remains supported by the uppermost 14-day SMA line.The counter remains on the uptrend that began in June 2023, and could recover its footing once the profit-taking phase comes to a stop.The slow-stochastic remains in a downward position, having fallen to 32 points while the RSI sits at 57 points.The investor interest in the shares remains strong as trading volume scaled to its highest yesterday since March 2023.On the lower end of the chart, support is found at 63.5 sen and 59 sen.
The comments above do not represent a recommendation to buy or sell.
