THPLANT (5112) - TH Plantations Bhd
TH Plantations Berhad, an investment holding company, is engaged in the cultivation of oil palm and processing of fresh fruit bunches in Malaysia. Looking on weekly chart we can clearly see that breaking up 9 years parallel channel since 2013. Futhermore, TH Plant price is in new range of parrallel channel since 2020. In addition, indicator for OBV obviously a bullish divergence, either institutational or someone with a lot of money collecting the shares.
According to Maybank Investment Bank, a research report on 8 Feb 2022 indicated that CPO prices were expected to remain lofty due to the tight supply of vegetable oils globally.
CPO Closing Price 14 Feb 2022 - RM5,667
CPO is on all time high right now since 2008. I also paired with other indicator which on ichimoku cloud. The signal as below:
Weekly Chikou - above price (pass)
- above cloud ( pass)
- future cloud thin (pass)
TH Plant may do a little bit of retracement before retesting the upper channel again. Overall, TH Plant is a bullish signal.
Disclaimer: This trading view platform is free for sharing any idea. Anyway, this trading idea is not given a buy call. Kindly do further research on your own and seek a professional investment advisor.
By: Muhd Iskandar
TH Plantations Berhad, an investment holding company, is engaged in the cultivation of oil palm and processing of fresh fruit bunches in Malaysia. Looking on weekly chart we can clearly see that breaking up 9 years parallel channel since 2013. Futhermore, TH Plant price is in new range of parrallel channel since 2020. In addition, indicator for OBV obviously a bullish divergence, either institutational or someone with a lot of money collecting the shares.
According to Maybank Investment Bank, a research report on 8 Feb 2022 indicated that CPO prices were expected to remain lofty due to the tight supply of vegetable oils globally.
CPO Closing Price 14 Feb 2022 - RM5,667
CPO is on all time high right now since 2008. I also paired with other indicator which on ichimoku cloud. The signal as below:
Weekly Chikou - above price (pass)
- above cloud ( pass)
- future cloud thin (pass)
TH Plant may do a little bit of retracement before retesting the upper channel again. Overall, TH Plant is a bullish signal.
Disclaimer: This trading view platform is free for sharing any idea. Anyway, this trading idea is not given a buy call. Kindly do further research on your own and seek a professional investment advisor.
By: Muhd Iskandar
Comment:
18% of gain for 3 days
Trade closed: target reached:
50% gain for 2 Weeks
TH Plant price was pushed too fast and FCPO market will make a correction soon.
TH Plant price was pushed too fast and FCPO market will make a correction soon.