*21st June Technical Idea*
FGV HOLDING BERHAD (Stock code: 5222)
We see that FGV had complete it impulse waive (1 2 3 4 5) and correction waive (A B C).
Base on fundamental study we think that higher CPO price will benefit the company.
if CPO price can maintain at this level RM 2400 and go higher, we will bullish share price traded above 1.06 (long bias)
if CPO price cannot maintain and go lover, we will assume share price may trade below 0.970 and will find it support at 0.920.
Risk: Moderate Risk
TP1: RM1.170
TP2: RM1.260
SL1: RM0.970
SL2: RM0.865
Risk Return Ratio:2.22x
Strategy:
1) suggest to wait confirmation when share price close above 1.060.
2) Value investor may accumulate at every new low prices or demand zone as long as fundamental remain.
FGV HOLDING BERHAD (Stock code: 5222)
We see that FGV had complete it impulse waive (1 2 3 4 5) and correction waive (A B C).
Base on fundamental study we think that higher CPO price will benefit the company.
if CPO price can maintain at this level RM 2400 and go higher, we will bullish share price traded above 1.06 (long bias)
if CPO price cannot maintain and go lover, we will assume share price may trade below 0.970 and will find it support at 0.920.
Risk: Moderate Risk
TP1: RM1.170
TP2: RM1.260
SL1: RM0.970
SL2: RM0.865
Risk Return Ratio:2.22x
Strategy:
1) suggest to wait confirmation when share price close above 1.060.
2) Value investor may accumulate at every new low prices or demand zone as long as fundamental remain.