Dairy Farm hits another 18-month high on 27 Jan 2017. It has risen consecutively for the past six trading days and has surged 13.3% from an intraday low of $7.28 on 20 Jan 2017 to $8.25 on 27 Jan 2017. This has significantly outperformed the STI, as STI was only higher by 2.0% over the same period.
How high can Dairy Farm go? Read on below for its chart analysis…
Based on Chart 1 below, Dairy Farm is on a strong uptrend, as depicted by its upwards sloping exponential moving averages (EMAs). All the EMAs are rising. However, there are some noteworthy points.
- a) RSI closed 87 on 27 Jan 2017. This is the highest level since 1990 and indicates extreme overbought conditions;
- b) Dairy’s Farm supports are spaced quite a distance away from one another. Typically, a cluster of supports (i….