Let's see tomorrow if can breakout from potential flag pattern. Last chance........

Hopefully going to challenge 0.85 and above tomorrow

Genting MAV 200 is 4.39, why need to cut loss at 4.40? Genting already test the gap up on 24/11/23 yesterday, it may retest the MAV200 before real rebound. Forming double bottoms at 4.39 is great.

Today is a negetive candle, it cancel bullish harami candlestick and potential three inside up triple candlestick pattern. The best is range bound now...........

Anyone see a classical bullish harami candlestick yesterday? Would it be a potential three inside up triple candlestick pattern? RSI divergence with price can be noticed very clearly now. Potential bullish flag pattern still possible. Let's see if today is positive candle to confirm......
(4 weeks ago | Report Abuse
If rebound from 1.35 not successful, strong support at 1.25. it is bottom of medium term uptrend channel)

Genting oversold, waiting for RSI divergence. Expected real rebound around early May

Genting oversold, waiting for RSI divergence. Expected real rebound around early May

Malaysia palm oil stock level fell 10%............
Malaysian palm oil futures were below MYR 4,280 per tonne, falling for the second session after hitting MYT 4,360 last week due to weakness in rival edible oil on the Chicago Board and a fall in palm olein on the Dalian. A drop in crude oil prices also weighed sentiment, as bets grew that the ongoing Middle East conflict would be contained. Traders were also cautious as the Eid al-Fitr festive buying nears its end. At the same time, they anticipated crucial economic data from key buyer China, including Q1 GDP figures and March industrial output and retail sales. Limiting the downside momentum was fresh data from the industry regulator showing Malaysia's palm oil stocks at the end of March fell 10.68% mom to an 8-month low of 1.71 million metric tons. Crude palm oil production gained 10.57%, while palm oil exports climbed 28.61%. On cargo surveyor data, shipments of Malaysian palm oil products for April 1-15 rose about 9.0% from the same period in March, Intertek Testing Services said.

Malaysia palm oil stock level fell 10%............
Malaysian palm oil futures were below MYR 4,280 per tonne, falling for the second session after hitting MYT 4,360 last week due to weakness in rival edible oil on the Chicago Board and a fall in palm olein on the Dalian. A drop in crude oil prices also weighed sentiment, as bets grew that the ongoing Middle East conflict would be contained. Traders were also cautious as the Eid al-Fitr festive buying nears its end. At the same time, they anticipated crucial economic data from key buyer China, including Q1 GDP figures and March industrial output and retail sales. Limiting the downside momentum was fresh data from the industry regulator showing Malaysia's palm oil stocks at the end of March fell 10.68% mom to an 8-month low of 1.71 million metric tons. Crude palm oil production gained 10.57%, while palm oil exports climbed 28.61%. On cargo surveyor data, shipments of Malaysian palm oil products for April 1-15 rose about 9.0% from the same period in March, Intertek Testing Services said.

Today D9 for Jtiasa, Usually every D10 there is changes in price. there is a last chance for Jtiasa break out from potential flag pattern....

FCPO: On cargo surveyors' data, shipments of Malaysian palm oil products for March likely jump between 11.77% and 29.2%, said Intertek Testing Services, AmSpec Agri, and SGS. Meanwhile, Reuters estimated stockpiles likely fall by 6.65% mom to an 8-month low of 1.79 million tons at the end of March.

FCPO: On cargo surveyors' data, shipments of Malaysian palm oil products for March likely jump between 11.77% and 29.2%, said Intertek Testing Services, AmSpec Agri, and SGS. Meanwhile, Reuters estimated stockpiles likely fall by 6.65% mom to an 8-month low of 1.79 million tons at the end of March.

Remeasure again this morning that Jtiasa seems drawing a potential bullish flag, any break out of flag immediate target may be around1.68-1.72

Finally Taann finished 4.10, turn support. Waiting breakout from 4.15, watching profit grow. When is Jtiasa turn?

Finally Taann finished 4.10, turn support. Waiting breakout from 4.15, watching profit grow.....

Rebounded from double bottoms hopefully edge up slowly but surely. CPO future touching 4500, already break out from flag pattern.......

US Lumber steadied around $600 per thousand feet benchmark, close to the nearly 1-1/2 year highs of $617 per thousand feet touched on March 11th, buoyed by improved demand outlook. The US housing starts, which serve as a measure for demand, soared 10.7% month-over-month to an annualized rate of 1.521 million in February 2024, reversing the 12.3% fall in January and beating forecasts of 1.425 million. Additionally, the sentiment was lifted by solidified bets of monetary easing after Fed members have maintained their projection for three interest rate cuts in 2024. Lower borrowing costs would decrease the mortgage rates and, therefore, revive the need for lumber as the key building material.

Let's watch if Taann can break out from 4.10. On cargo surveyors' data, shipments of Malaysian palm oil products for March seen rising between 20.5% and 29.2% compared to February, according to Intertek Testing Services and AmSpec Agri Malaysia. Palm oil future close@4392, 2nd day higher than 4320, let see if can sustain tomorrow. If flag pattern breakout confirmed, with roughly measurement of 1st leg (4300-3840=460), 2nd leg potential uptrend can be 4150+460=4610.

Long term investers won't buy now, traders do due to CPO future breakout. Long term investers just watching profit grow........

Palm oil future close@4392, 2nd day higher than 4320, let see if can sustain tomorrow. If flag pattern breakout confirmed, with roughly measurement of 1st leg (4300-3840=460), 2nd leg potential uptrend can be 4150+460=4610.

On cargo surveyors' data, shipments of Malaysian palm oil products for March seen rising between 20.5% and 29.2%, according to Intertek Testing Services and AmSpec Agri Malaysia.

Huge selling presure? Jtiasa insists to form duoble bottoms before rebound?

Malaysian palm oil futures hovered around MYR 4,230 per tonne after falling below MYR 4,150 last week, lifted by strength in rival edible oil on the Dalian and the Chicago Board of Trade and a weaker ringgit. In addition, crude oil prices continued their upside momentum ahead of a key meeting by OPEC+ this week. Meanwhile, bets of robust demand strengthened as the Eid-al Fitr festival approached. In key buyer China, a private survey indicated manufacturing activity grew the most in 13 months last month, in line with official readings that showed a rebound in the sector. On cargo surveyor data, Intertek Testing Services said shipments of Malaysian palm oil products for March rose 20.5% from February. Capping the rise were projections from local media that palm oil imports in top buyer India might be lower in 2023/24. In top producer Indonesia, authorities plan to double subsidies for palm oil replanting to IDR 60 million (USD 3,785) per hectare from May to boost farmers' participation.

CPO future closed at 4338 today , if can maintain next 2 days more than 4320, than it may be a bullish break out from flag pattern, this week price progress is unmeasurable......

Taann shoot up d, Jtiasa may follow suit..........CPO future is drawing a potential bullish flag pattern, any breakout 3320 may triger Jtiasa to rebound

Palm oil 2nd big buyer China March 2024 PMI data previous month 49.1, forecast 50.1, Actual 50.8. https://www.reuters.com/world/china/chinas-manufacturing-activity-expanded-slightly-march-official-pmi-shows-2024-03-31/
(Malaysian palm oil futures traded around MYR 4,180 per tonne, halting losses from the prior two sessions amid strength in rival edible oils on the Chicago Board of Trade and firm crude oil prices. The contracts are heading for the third straight month of rises, bringing gains of over 12% for the quarter following losses in the prior four periods, buoyed by optimism of robust demand as the Eid-al Fitr festival approaches. On cargo surveyors' data, Intertek Testing Services and AmSpec Agri noted shipments of Malaysian palm oil products for March 1-25 likely rose between 13.8% and 21.2% from the same period in February. Capping the upturn was caution ahead of PMIs data for March in key buyer China over the weekend. In top producer Indonesia, authorities plan to double subsidies for palm oil replanting to IDR 60 million (USD 3,785) per hectare from May to boost farmers' participation. Trading was thin as some traders preferred to stay on holiday after Thursday's break.)

May I know Prolintas is traded under which category in Bursa index? Example, utility, Reit; although we know it is a business trust, but there is no such category in bursa yet

Taann challenge resistance today?

Let see potential flag pattern of future CPO can be successfully formed? A boost to plantation index if CPO future can break out from the flag before Raya

Thanks value_invest for vary detailed and complete analysis.

Expect almost at bottom if <4.70. Prepare your bullets to add for May 1stQ results release. Genting short term share price movement is very difficult to predict, only long term can. Continue to monitor US small bank debt and exposure to commercial property issues

We may expect QoQ lower and YoY higher. However, these may not be main play theme now. Main play theme may be is nett cash company and how management manage (distribute or reinvest) the money. If the money is wisely use eg share buy back, share price may appreciate, if the money is not properly handled...........

Huge unloading of shares above 1.44 noticed. Resistance still very strong.
Malaysian palm oil futures were below MYR 4,250 per tonne following a strong session at the start of the week, rattled by a stronger ringgit and expectations of higher production in March. Traders were also cautious as they anticipated official PMIs figures in key buyer China that will be due over the weekend. A strength in Dalian vegetable oils and a further rise in crude oil prices limited the bearish mood. Meanwhile, export data continued to indicate strong growth in March. Cargo surveyors Intertek Testing Services and AmSpec Agri reported shipments of Malaysian palm oil products for March 1-25 likely rose between 13.8% and 21.2% from the same period in February. In top producer Indonesia, authorities reportedly are considering revising the domestic market obligation policy for edible oil by linking it to production instead of exports. Production growth in the country has been slowing in recent months, meaning exports would be tighter, according to a commodity research company.

Consolidation finished. Up, up and away for new height..........
( 4 days ago | Report Abuse
Finally 1.35 support hold, have you managed to catch the boat? With a inverted hammer yesterday and today white candlestick, hopefully traders push the price up and Jtiasa can join a last leg of a small Raya relly next week. Continue to watch the show.....)

Watch out! Palm oil future seems painting a flag, let see if it can successfully forming a flag.............

Malaysian palm oil futures held below MYR 4,250 per tonne for the second session in a row, as traders digested data from the Southern Peninsular Palm Oil Millers Association (SPPOMA) that showed production for March 1-20 climbed by 22.4% mom. At the same time, markets awaited wider output figures from the Malaysian Palm Oil Association for further guidance. In key buyer China, official PMIs data for March are set to be released next week. For the week, the contracts are pointing to the first drop in five, slipping around 1.0% so far, dragged by recent profit-taking after prices hit their highest level in over a year last week at more than MYR 4,300. In the meantime, prices of rival edible oils were lower while crude oil fell further due to the possibility of a nearing Gaza ceasefire. Elsewhere, the first integrated palm oil processing unit in top buyer India has started its commercial operations, marking a step in the country's journey towards self-reliance in edible oils.

With 2 day bullish Engulfing candlestick pattern, soon will see Genting challenge 5.11. Are you still in the boat? https://www.investopedia.com/terms/b/bullishengulfingpattern.asp

RM5 should not be a big resistance, 5.10-5.11 is. After 5.11 will be 5.40 based on TA as follows:
(TA technical analysis-Genting Berhad need confirmed breakout above the RM5.10 recent high to extend recovery towards RM5.40, with next hurdles at the 123.6%FP (RM5.60) and 138.2%FP (RM5.95) ahead, while the rising 100-day ma (RM4.56) provide uptrend support. Genting Malaysia will require decisive breakout above the 19/3/21 high (RM2.87) to fuel uptrend momentum towards RM3.00, with tougher hurdles at 123.6%FP (RM3.15) and 138.2%FP (RM3.33) going forward, while uptrend support also come from the rising 100-day ma (RM2.62).)

Finally 1.35 support hold, have you managed to catch the boat? With a inverted hammer yesterday and today white candlestick, hopefully traders push the price up and Jtiasa can join a last leg of a small Raya relly next week. Continue to watch the show.....

4.88 become strong support again after closing the gap. hopefully it can stay at this range for longer period to build stronger support.

Good. closing the gap, don't rush. up slowly.

Hopefully with vegetable oils rebound, Jtiasa can state a doji at 1.35 today, then tomorrow will decide the direction

Good show now. Bull Bear fighting while cpo future rebounding, MYR/USD droping, who will win? not for long term investors

If rebound from 1.35 not successful, strong support at 1.25. it is bottom of medium term uptrend channel

Not sure if finish washing, seems finished. If GENINE stop selling, rebound from 1.35 successful, the wave may bring everyone to 1.62, to ride on Raya small bull wave.

GENM bottom of bolinger band and MAV20 at around 2.81, any drop below it is a good buy.
Genting Bottom of bolinger band is at 4.68, bottom of uptrend channel is at 4.74, MAV50 at 4.84.........

Ha, 5 and 4.94 can not hold. It seems tomorrow 4.80 can top up Genting

Unfortunately selling pressure haven't finished.........

Start moving due to dividend?

If targrt rate 6.3%, price 0.95. If target rate 5.3% (US short term interest rate), price 1.13, if target rate 3.9% (CIMB FD rate), price 1.53. Any comment?