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
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