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Indofood Agri: Credit Suisse upgrades to Neutral from Underperform, and raises its TP to $3.00 vs $2.12, after increasing its FY11 crude palm oil price assumption to MYR2,950 pt vs MYR2,300/ton. Lifts FY11 earnings estimates by 57% to reflect its higher CPO price assumptions.
Note that IFAR is currently one of the largest upstream plantations in Indonesia, with exposure in North Sumatra, Riau, South Sumatra and Kalimantan. Its plantation portfolio comprises a handful of contiguous estates, allowing the company to enjoy significant economies of scale.
still palm oil stocks down marginally today, after CPO May futures dropped 3.6% yday to close at RM 3745/ ton. Palm oil's decline to its lowest level since Dec 17 follows losses in soybean and soyoil prices on CBOT, as traders cut risky positions following higher crop estimates for Brazil and rains in Argentina diminished the threat of prolonged tightness in supplies.
Note that IFAR is currently one of the largest upstream plantations in Indonesia, with exposure in North Sumatra, Riau, South Sumatra and Kalimantan. Its plantation portfolio comprises a handful of contiguous estates, allowing the company to enjoy significant economies of scale.
still palm oil stocks down marginally today, after CPO May futures dropped 3.6% yday to close at RM 3745/ ton. Palm oil's decline to its lowest level since Dec 17 follows losses in soybean and soyoil prices on CBOT, as traders cut risky positions following higher crop estimates for Brazil and rains in Argentina diminished the threat of prolonged tightness in supplies.
NICE AND STEADY... HIGH @ $2.98, LAST MONTH HIGH
Shortie may cover position and IndoAgri may rebound at $2.55 before heading towards the price target.
Bluevaio ( Date: 23-Jan-2011 14:38) Posted:
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calculus wrote reversal @ 2.50
bluekelah ( Date: 26-Jan-2011 21:44) Posted:
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CPO futures down on broad-based selling
CRUDE palm oil futures prices on Bursa Malaysia Derivatives closed lower yesterday on broad-based selling in the commodity markets and concerns over slower demand after India increased interest rate to curb inflation, dealers said.
February 2011 declined by RM29 to close at RM3,748 a tonne, March 2011 fell RM37 to RM3,720, April 2011 shed RM33 to RM3,670 and May 2011 slipped RM30 to RM3,609.
Turnover declined to 21,679 lots from 24,436 lots on Tuesday. Open interest rose to 87,641 contracts from 87,619 previously.
On the physical market, February South fell RM50 to RM3,750 compared with RM3,800. - Bernama
What's wrong with this counter?
Just broke the long term uptrend line since 2009, looking very bearish...
When the reversal happen can post here? vested at 2.77 average at the moment but hoping to average down somemore...
calculus1985 ( Date: 23-Jan-2011 11:42) Posted:
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Good analysis...did u short anyway?
Now its at the 100D MA, do u think it will go down to 2.30?
marubozu1688 ( Date: 09-Jan-2011 14:38) Posted:
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IndoAgri is in the oversold region! Trader should monitor this stock look out for sign of reversal before entry =)
See my analysis on IndoAgri here
can jump ?
Bearish chart pattern on IndoAgri.
http://mystocksinvesting.com/singapore-stocks/indoagri/indoagri-forming-a-rising-wedge/
Trade before any review or signal appear, or else you will be lagging behind.... 
Technical Comment from CIMB
• The bearish wedge pattern is still very much in play here. It is possible that a
top was seen at S$2.99, when it formed a bearish shooting star candle.
However, we would not discount that another leg to new highs is probable
here.
• Both its MACD and RSI are starting to lose momentum. There is a strong
bearish divergence seen on both indicators, calling for bulls to be extra
cautious.
• The top end of the wedge pattern at S$3.09 could be tested but we think that
the upside is likely capped. Longer term, we still expect prices to fall to test the
wedge support at S$2.74. Falling below would likely see a deeper correction,
probably towards the S$2.40, its 200-day SMA.
Life Is Great
time to enter ?
As usual... Happy with the return now... Closed..
Dont always ask me for my price... average is sure to be higher than now.... Trade secret... My first trade of the year... Most important I am not greedy always...take profit even it is just 1 or 2 pip...
hey, what price u short ?
Isolator ( Date: 04-Jan-2011 16:06) Posted:
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Already sit with profit...