Farm Fresh is poised to stage a bullish breakout, as it tested the immediate resistance last week on high volume. Prior to that, the stock had been moving sideways while volume was declining – an indication that selling pressure was subsiding. If the stock breaches the MYR1.64 resistance, expect the momentum to lift it towards MYR1.73, followed by MYR1.80. Towards the downside, breaching below the MYR1.58 support would nullify the expectation.

Source: RHB Securities Research - 30 Jan 2023