Chart: CPO's daily chart as at Oct 14, 2009 (Source: ifs.marketcenter.com)
Based on this, you can expect plantation stocks to rise in the weeks ahead.
Wednesday, October 14, 2009
CPO broke above its medium-term downtrend line
CPO has broken above its downtrend line at RM2150 on Oct 12. The MACD indicator has also put in a positive crossover. With these 2 signals or readings, the recovery in CPO prices should be more assured in the weeks ahead.
Chart: CPO's daily chart as at Oct 14, 2009 (Source: ifs.marketcenter.com)
Based on this, you can expect plantation stocks to rise in the weeks ahead.
Chart: CPO's daily chart as at Oct 14, 2009 (Source: ifs.marketcenter.com)
Based on this, you can expect plantation stocks to rise in the weeks ahead.
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11 comments:
Hi Mr. Alex,
Possible bullish trend for CPO stocks ?
Apperciate your feedback.
Thks
A bit abnormal, market keep on going up and up....clock ticking towards the next fall.
Assuming the retailers are back into rotational play in plantation, maybe one could consider a quick punt on Dutaland or Mvest?
Hi JR,
I think plantation stocks should rise up in tandem with higher CPO prices. Somehow, one does not get the feeling that's happening as the price movement is extremely slow.
Hi Solomon,
Dutaland looks interesting. It is resting at its medium-term uptrend line & could well benefit from positive news flow (such as higher CPO prices).
dear alex
can i collect twsplant
rgds
Hi KS,
TWSPlant (closed at RM1.70 today) is in a medium-term uptrend line, with support at RM1.64-65. However, it is blocked by a short-term downtrend at RM1.74-75. I think it is relatively safe to accumulate the stock now and add onto the position if an upside breakout is triggered.
dear alex
my other half is interested in
thplant. your comments pls.
rgds
Hi KS,
THPlant is trapped in a descending triangle. It is approaching the apex of that triangle soon. Support at RM1.54-55 with breakout at RM1.60. A breakout too close to the apex normally give rise to weak trend. I am inclined to think that this stock will continue to trade sideway in a range-bound fashion at RM1.50-1.60.
Hi Alex,
Any comment for "Cepat"? I still holding some with average price RM1.03......
Hi Tan,
Cepat tested its medium-term uptrend line at RM0.91 on Oct 7. It immediately rebounded broke above its short-term downtrend line at RM0.93. The stock is in an upward channel, with upper boundary at RM1.10-20. The stock is a trading BUY.
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