Farm Fresh Bhd
has been picking up bullish momentum since embarking on a recovery in early August.
Having returned to a two-year high, the share has established a strong uptrend with an eye towards returning to resistance at RM1.75, upon which it could travel to a historical trading high of RM1.86.
Looking at the technical indicators, the daily moving average convergence/divergence (MACD) histogram is on a bullish rise, indicating a rally is expected to continue.
The slow-stochastic, meanwhile, remains healthy at an overbought level of 97 points while the 14-day relative strength index (RSI) is also bullish at 80 points.
Support for the share is pegged to RM1.60 and RM1.49.
CCK Consolidated Holdings Bhd continued to hover near all-time high levels as it looked for a way above the resistance of RM1.80.The share is well-supported by the technical indices, which remain below overbought levels of trading.
The slow-stochastic has gained to a strong 54 points while the RSI sits at 58 points.
The MACD is approaching a return to a positive bar, suggesting bullish momentum is ready to resume.
Support is pegged to RM1.63 and RM1.32.
WCE Holdings Bhd failed to extend its gains yesterday and remains atop the 50-day simple moving average.There remains a risk of the share retreating below the resistance given the failure to affirm a crossing, coupled with the slow-stochastic subsiding in overbought conditions.
However, other indicators such as the growing bullishness in the MACD histogram and the ascending RSI at 60 points, suggest the pullback may be temporary before the share returns to a rally.
There is resistance overhead at 88 sen and RM1.15 while support can be found at 68 sen and 53.5 sen.
