Resistance at 1.18 & support at 0.770 -----> there's approximately a 10% upside risk (gain) & a 27% downside risk (loss); hence the reward-to-risk ratio is terribly unfavorable. FYI, I've sold all yesterday (I'll forgo the potential 10% profit to avoid the potential 27% loss).
There r other reasons not to hold on: the RSI currently at 83.67% indicates overbought or overpriced (it will tend to drop soon). Also, there r only 4.5 days of trading left b4 CNY (holiday of Feb 1, half day on Feb 4, holidays on Feb 5 & 6). People will tend to sell off during these 4.5 trading days b4 CNY. Good luck to those still holding on! Decide (buy/sell) at your own risk (profit/loss).
@Abu Abu, long term investment in FGV has proven to b a great disaster! Look at its 5 years historical price chart..... if a long term investor were to buy FGV b4 2013 at RM5.50 and held it for 5 years till now (current price is RM1.07); the price has dropped 80.5% (what a great loss)!
------------------------------------------------------- Abu Abu: can invest long term only this FGV short term could ruin life 25/01/2019 10:42 ---------------------------------
@Sinoboy...the first TP of 1.08 was first hit yesterday....today is the second day....and it has turned into a resistance which need to be taken down decisively in order for sawit to march forward... thank you
Unless you intent hold up a convenient store with your friends, report to the government when your friends have under-declared their income tax & rewarded as being an informer or having mugged a lady's for her handbag, the other way to a earn a few Ringgit honestly this morning was to buy FGV quickly at 1.05/
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Tongkarat
7,588 posts
Posted by Tongkarat > 2019-01-25 10:04 | Report Abuse
Sawiiiiiiittttttt.....sawiiiiiiitttttt