Chart 1: CPO (MYR) daily chart as at Mar 16, 2017 (Source: ifs.marketcenter.com)
CPO (in USD) reflects the same technical picture.
Chart 2: CPO (USD) daily chart as at Mar 16, 2017 (Source: Investing.com)
The recovery in CPO prices could be the catalyst for a play for plantation as better prices coupled with improved FFB output should drive earning higher.
2 comments:
Hi Alex,
Are you familiar with point & figure chart? Today i generate the FBMKLCI on P&F chart(block size 10 x reversal 3). It show multi-top breakout. So i did a horizontal price count and come out with 3 target price, 1,885, 2,175 & the final TP with range 2,315 - 2,425.
Do you think all these TP possible to achieve?
Hi Chong BoonKee
I don't use point & figure chart. I like to have a look at your chart. Please send it to my email account, alexlu_kl@yahoo.com. Thank you in advance.
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