1. CPO prices tumbled RM86 or 2.8% to RM2,998 as of 5.45pm. If critical support above RM3,000 is broken today, it will be negative for plantation stocks tomorrow.
2. Historically, KL Plantation Index tracks CPO prices closely with correlation of > 90%.
3. Based on technical RSI value, here's some of the OVERBOUGHT plantation stocks that are most vulnerable to possible selloff tomorrow:
a) Sarawak Oil Plantation - RSI 77.7
b) Tradewinds Plantation - RSI 75.3
c) BLD Plantation - RSI 72.4
Grumpy Old Man Syndrome
1 year ago
No comments:
Post a Comment