This morning, we saw some actions in Dairy Farm, sent out a note and then buyers started coming in.....
Even the 7.60 resistance got out of the way too after a while...
Upside looks intact with 7.60 holding now...
Question is: can it touch 8.00 by end of this week as drawn in chart.... would be interesting if that happens....
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Sent: Monday, January 23, 2017 10:54 AM
Subject: ****** DairyFarm USD: Some actions seen today, new upwards phase from here with more confirmation, price 7.58
Subject: ****** DairyFarm USD: Some actions seen today, new upwards phase from here with more confirmation, price 7.58
DairyFarm has been trading below the 7.55 key resistance level since August last year and has attempted to push above many times but to no avail. Finally, today, we are seeing some actions again with it breaking upwards. More confirmation required to ride the upside from here on but for now looking good for the uptrend to continue as long as 7.50 is a support now. Can see it trade higher to test 8.00 first. Has been supported above the 200 day MA line since April last year and also supported above the upward sloping channel support since beginning of 2016 which can suggest that the reversal is still on tracked.
For illustration purpose only
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