This is what i mean by high correlation.. oil up palm oil up GAR up..
* Index up 0.4 percent
* Golden Agri rises 4.5 pct on higher palm oil prices
By Charmian Kok
SINGAPORE, March 9 (Reuters) - Singapore shares rose for a second-straight session as Asian markets gained on signs Greece would avoid a messy default, and an upbeat outlook for palm oil prices lifted firms such as Golden Agri-Resources .
Golden Agri was the top gainer on the benchmark Straits Times Index (STI), on expectations it will benefit from higher crude palm oil prices (CPO).
" CPO prices have been rising a lot and expectations are that it will still go higher," said Carey Wong, an investment analyst at OCBC Investment Research.
By 13:00 local time or 0500 GMT, the Straits Times Index (STI) was up 0.42 percent, or 12.40 points, at 2,982.78. The index is little changed over the last one week, but is up 13 percent so far this year.
Shares of Golden Agri, which owns palm oil plantations, jumped 4.2 percent to S$0.745 with over 91.1 million shares traded, making it the most actively traded stock by value.
Larger rival Wilmar International Ltd also rose 1.8 percent to S$4.99.
Palm oil prices are expected to hit 4,000 ringgit by the end of June, leading analyst Dorab Mistry said at a key palm oil conference on Wednesday. Prices have been trading in a range of 3,000-3,300 ringgit this year.
Across Asia, stock markets were higher, with Tokyo stocks jumping to a seven-month high after Greece successfully closed a bond swap offer aimed at reducing its colossal debt pile an adverting a chaotic default. (Editing by Anshuman Daga)
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starschema ( Date: 12-Mar-2012 14:00) Posted:
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Tropical ( Date: 09-Mar-2012 15:48) Posted:
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ozone2002 ( Date: 09-Mar-2012 15:19) Posted:
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This is what i mean by high correlation.. oil up palm oil up GAR up..
* Index up 0.4 percent
* Golden Agri rises 4.5 pct on higher palm oil prices
By Charmian Kok
SINGAPORE, March 9 (Reuters) - Singapore shares rose for a second-straight session as Asian markets gained on signs Greece would avoid a messy default, and an upbeat outlook for palm oil prices lifted firms such as Golden Agri-Resources .
Golden Agri was the top gainer on the benchmark Straits Times Index (STI), on expectations it will benefit from higher crude palm oil prices (CPO).
" CPO prices have been rising a lot and expectations are that it will still go higher," said Carey Wong, an investment analyst at OCBC Investment Research.
By 13:00 local time or 0500 GMT, the Straits Times Index (STI) was up 0.42 percent, or 12.40 points, at 2,982.78. The index is little changed over the last one week, but is up 13 percent so far this year.
Shares of Golden Agri, which owns palm oil plantations, jumped 4.2 percent to S$0.745 with over 91.1 million shares traded, making it the most actively traded stock by value.
Larger rival Wilmar International Ltd also rose 1.8 percent to S$4.99.
Palm oil prices are expected to hit 4,000 ringgit by the end of June, leading analyst Dorab Mistry said at a key palm oil conference on Wednesday. Prices have been trading in a range of 3,000-3,300 ringgit this year.
Across Asia, stock markets were higher, with Tokyo stocks jumping to a seven-month high after Greece successfully closed a bond swap offer aimed at reducing its colossal debt pile an adverting a chaotic default. (Editing by Anshuman Daga)
touched support and back up again..
supported by high oil prices..
technicals oversold.. waiting to sell when overbought..
DYODD
doldoves ( Date: 01-Mar-2012 10:52) Posted:
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lowchia ( Date: 06-Mar-2012 22:40) Posted:
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On Tuesday, Golden Agri re-tests the support at $0.695 and closed at $0.70 with LOW volume of 62.92 million shares traded.
During the past 10 bars, there have been 1 white candle and 7 black candles for a net of 6 black candles. During the past 50 bars, there have been 15 white candles and 17 black candles for a net of 2 black candles.
Both RSI & MACD are bearish as RSI trend downwards.
Important Resistance of Golden Agri: $0.715
Immediate Support of Golden Agri: $0.695
Currently prices are supported by 200 days MA at $0.695.
Since 22/Feb, prices have been .................. READ MORE
Tropical ( Date: 02-Mar-2012 14:09) Posted:
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ChillX ( Date: 01-Mar-2012 22:43) Posted:
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If you short and it rebounds instead? prepared to cut loss? One recent case in point just this week is Noble Group... started downtrending and then had a rebound on Wed 29 Feb and then downtrended again today.
I don't dare play short - not my style of trading it has a very high risk and thus not my cup of tea.
Tropical ( Date: 01-Mar-2012 18:19) Posted:
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[Trading Central] Golden Agri-Resources: the RSI is oversold
Alternative scenario: above 0.76, look for 0.786 and 0.801.
| Short Term View (Rise, Limited Rise, Consolidation, Limited Decline, Decline) |
Decline |
|---|---|
| Change In Short Term View | Limited Rise to Decline |
| Medium Term View (Bullish, Range, Bearish) |
Bullish |
| Change In Medium Term View | None |
0.76 is our pivot point.
Our preference: under pressure below 0.76.
Alternative scenario: the upside breakout of 0.76 would call for 0.786 and 0.801.
Comment: the RSI is trading below 30. This could mean that either the stock is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the share stands below its 20 and 50 day MA (respectively at 0.76 and 0.74).
Supports and resistances:
0.786 *
0.76 **
0.75
0.73 last
0.695
0.68 **
0.666 *
@InvestNotTrade
Now your only hope is to sell based on 'Dividend Play'. :)
I personally think it will come down just eyeballing the chart. I know those already invested hope for upward price. Whatever the price outcome, I am natural though I am now a potential buyer (sold my remaining 1/2 holdings @ 0.78 awhile back). My notes says it still above the 78.6% retracement line so I am looking to buy below the 78.6% retracement line. If it comes, I will buy, if it doesn't, I am happy for those who has alredy invested. There are other stocks to lookout for. :)
ozone2002 ( Date: 28-Feb-2012 16:15) Posted:
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InvestNotTrade ( Date: 29-Feb-2012 20:54) Posted:
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http://www.goldenagri.com.sg/pdfs/SGX%20Filings/2012/GAR08-27-02-2012-NoticeofBookClosuredateforDividend.pdf
Tropical ( Date: 28-Feb-2012 14:13) Posted:
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