Two weeks ago, I posted on the start of CPO uptrend. Now we can see that the Plantation index is poised to break above its intermediate downtrend line. See Chart 1.
Chart 1: Plantation index's weekly chart as at Nov 16, 2013_3.30pm (Source: Quickcharts)
Below are a few plantation stocks that are moving higher - drawing strength from the uptrend in CPO. They are:
1) SOP
Chart 2: SOP's weekly chart as at Nov 16, 2013_3.30pm (Source: Quickcharts)
2) IJMPLNT
Chart 3: IJMPLNT's weekly chart as at Nov 16, 2013_3.30pm (Source: Quickcharts)
3) GENP
Chart 4: GENP's weekly chart as at Nov 16, 2013_3.30pm (Source: Quickcharts)
Note: GENP had started moving earlier on reports that its land bank is well-located and could be converted to property development.
Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, SOP, IJMPLNT & GENP.
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