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.
