Chart: CPO's weekly chart as at Dec 17, 2013 (Source: ifs.marketcenter)
Wednesday, December 18, 2013
CPO- resting at RM2500 support
CPO pulled back from the recent high of RM2700. It is now resting on the horizontal line RM2500. If it doesn't break below the RM2500 mark, the bullish stance for CPO and plantation stocks would remain. A break below the RM2500 mark would be negative for CPO and plantation stocks. Let's wait & see how CPO will fare over the next few days.
Chart: CPO's weekly chart as at Dec 17, 2013 (Source: ifs.marketcenter)
Chart: CPO's weekly chart as at Dec 17, 2013 (Source: ifs.marketcenter)
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13 comments:
Hi Alex,
Do you foresee Sealink doing what Tas share price has done, moving forward?
Thanks!
Hi lai
Sealink is still in a downtrend line, with resistance at RM0.50. In addition, it is a loss-making company. Its losses average about RM10 million per annum.
Based on poor technical & fundamentals, I don't see a rally in Sealink without strong intervention.
Thanks for the reply.
Btw, UliCorp has been showing some potential. Appreciate your view on its price objective.
TQ.
hi Alex, would like to seek your opinion on Unisem. Since USA market is on the mending, is it a good stock for long term investment?
I personally didnt like Sealink.
Hi lai
UliCorp may retest its 2011 high of RM1.40. It has just broken above the recent November high of RM1.10.
hi Stanley
Unisem is still in a downtrend line with resistance at RM0.97-0.98. Horizontal support is at RM0.85.
The Philadelphia Semiconductor index (SOX) is on an uptrend after it broke above its triangle at 420 in 1Q2013. It is now at 520-530.
My guest is that you still need to be well-positioned in the semiconductor sector to benefit from the growth in that industry. MPI seems to have made the adjustment. Now it is Unisem's turn to make the change.
At RM0.85, I think Unisem may be a trading BUY.
Hi bro Alex. Please comment on ASIAPAC (4057). I heard it will rise to 30sen soon. Thx
Alex, whats your personal views on Hupseng on its split, bonues and price amendment proposal?
I'm pretty interested in getting some..
Hi Eelyn Soon
Hupseng has gone up quite a bit over the past 2 years. The rise is partly driven by good fundamentals. Its EPS is about 30 sen and its dividend is about 33 sen. Thus its PE is 20x & DY is 5.4%.
However, at this juncture, we have to wonder whether the corporate exercise the last push.
Hi wong
ASIAPAC may have broken above a 4-year symmetrical triangle at RM0.13 in April-May this year. After the past 6-7 months consolidating, it may rush up. I said, it may... Then again, it may not. I am not sure what's the angle on this stock.
Hi Alex,
Latitud is flying since your last call. What happen lah?
Hahaha.
Nevertheless, merry christmas and happy new year!
Hi Lai,
On Latitud, I can only say that it broke above the high of RM1.75. That's a bullish breakout and it would be a trading BUY instead of a trading SELL.
This call reminded me of a few other negative or SELL calls that I made in the past. My readers actually jumped into those stocks and then asked me what to do. I wonder what happened to the call. Well I hope those who read my negative calls wrongly, did the same again in Latitud and hopefully recover their losses.
To them and to you, a Merry Christmas & a Happy New year.
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