Farm Fresh Bhd
made a turn higher yesterday as investor sentiment improved, while the technical indices attempted to return from oversold conditions.
The share, which been in correction mode since late January, is due for some positive retracement.
There remain stiff obstacles in its path as the short-term moving averages remain downtrending. A crossing of the resistance at RM2.50 should help plot out a clearer path higher, with an eventual recovery to the RM2.99 level.
The slow-stochastic has firmed up past the oversold line at 24 points. The 14-day relative strength index (RSI) has U-turned to 37 points while the daily moving average convergence/divergence (MACD) histogram has stopped its decline to turn higher
Support is pegged to RM2.24 and RM2.
MN Holdings Bhd gapped up yesterday in bullish mode, rising above a consolidation line to push towards a historical closing high of RM1.97.
Looking at the daily price chart, the share has taken on a positive pattern with the moving averages offering rising support.
The technical indicators are also looking robust with the slow-stochastic rising further into overbought territory at 85 points and the RSI climbing at 63 points.
The MACD histogram charted a higher positive bar after days of gradual decline, reflecting a surge of bullish momentum.
Support for the share can be found a RM1.80 and RM1.65.
Solarvest Holdings Bhd's recovery has been picking up in recent days, with the share approaching the 200-day SMA line at RM2.60.
A positive breach of the hurdle could see the upside continue towards a historical closing high of RM3.31.
Momentum remains robust as the slow-stochastic stands at 74 points and the RSI at 60 points. Meanwhile, the MACD histogram remains positive and growing.
Support is found at RM2.20 and RM1.83.
The comments above do not represent a recommendation to buy or sell.
