Dairy Farm (technical)

Dairy Farm: mixed read through on technicals. The stock recently hit a new 52 wk low, a negative momentum signal. However, it has been making a gradual bowl shaped recovery over the past week, and RSI has been climbing back up from oversold levels. Investors should expect volatility in the counter, which now hovers around the critical $10 level. Upside may be capped at $10.50, and on a break back below the $10 support, we see downside to the $9 level.