KL Trader Investment Research Articles
Daily Trading Idea - FGV – MYR2.19 TAKE PROFIT (TECHNICAL)
FGV made a major Wave 4high of MYR2.97(16Feb 2015) with grossly overbought and bearish signals. Mostof its negative chart signals above suggest an imminent downwarddecline. It is likely to break into lower territory, as it breached its key supports in a bearish downward Wave 5 move.
TAKE PROFIT (TECHNICAL)on rallies forFGV, with weaker supports and clear downward target areas of MYR2.09, MYR1.58and MYR0.73.
Source: Maybank Research - 3 Mar 2015
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1 person likes this. Showing 7 of 7 comments
Hey.. cut loss lah, where got profit to take?
TP 1.50. This Q lose money, next Q worse. Why? Big flood in East Coast yet to reflect on the account.
2015-03-03 10:49
Everytime you release a report,miraculously the stock didn't go downward but upward instead. Why can't you just think why this is so? To not become a laughing stock after a while, maybe it is better to wait until you see the outcome, then you release the report. Everyone including me is seeing a technical rebound right now after a few years of fall and now trending higher (not sure whether it is sustainable or not). But volume decreases so the price stays. Furthermore, what for we look at old data and not the present conditions and future prospects. I actually think and others also think the same that due to flooding supply of palm oil and China imminent economic recovery which is a sure thing is going to push up palm prices in the slightly far future. Why sell now because of old data and not future prospects. Know what you are doing before you post anything, I don't know why i3 forum doesn't scrutinize peoples' posting. Our only danger is management does not know how to repair some damages and act rationally from now onwards.
2015-03-03 15:03
You don't know how to read technical chart also, we already have a W bottom (after today), the share price did not break the lowest point that occured in the last few months when there was flodding. WE are having a technical rebound but you are saying we have technical bad things. The bad quarterly results are more serious than the flooding and the price did not break the lowest support at that time (RM$2 or so). Do you know how to read technical chart or not or else don't put one that you give the wrong comment about it.
2015-03-03 15:08
Right now is the time to buy if you are buying for long term investment, I think the price will stay flat from now onwards until there is further good news to announce. But the fall is stopped by some powerful force and will stop here for now.
2015-03-03 15:35
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Price near 52 week low.What profit to take??
2015-03-03 10:42