Farm Fresh Bhd

• We believe buying interests for FFB have returned after it surged to a new 52-week high and broke out from the 6-week rectangular pattern yesterday. In view of the 3 consecutive white candles couple with the stocks pushing further away from all the EMAs, the upward momentum may be more prevalent now.

• We expect the rising momentum is set to steer the stock higher and test the next level of resistance of RM1.68 (R1) and RM1.80 (R2) in the near term.

• On the downside, stop-loss is set at RM1.42, below the 29 April’s low.
  

Source: Rakuten Research - 19 Jul 2024

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