lilysaari

Momentum building up

Long
MYX:BPLANT   BOUSTEAD PLANTATIONS BHD
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4
Bplant is positive as it has significantly breached a valid downtrend line and apperance of a Golden cross in late Oct with a momentum building up seen on MACD . Our view is Bullish with our price objective at 0.815. Exit trade if the daily price close below 0.43.

FCPOG seems optimistic, however we alert current price is at resistance level coincides appearance of Bearish Harami and overbought condition on RSI . We are still positive on the Bullish movement to 3517, however, correction or consolidation might occur this week. Liquidate earlier long position could be a good idea, however we need more confirmation for short position, unless for scalping purposes.

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