Dairy Farm (SGX: D01) has been on a downtrend since January 2019. Based on the technicals, the stock will resume its sell-off after a slight rebound in 23^rd of March:

1. The downtrend is marked by the series of lower highs and lower lows. With prices trending below the major 200 moving average.
2. The rebound was short-lived when prices broke out of the uptrend line in Mid-April and the stocks have been ranging since.
3. Although prices attempted to rebound at 4.57, the clusters of Doji and small candles indicate a slow down of momentum.
4. Triple top formation showing price rejecting the resistance of 5.02 thrice with the third top showing a graveyard Doji, a strong reversal signal.

*Timeline of the trade should be between 1-3 weeks from the date issued.

CHART LEGENDS

Moving average

Red dotted line = 200 SMA

Blue dotted line = 50 SMA