Tuesday, November 10, 2009

20091110 1854 FCPO EOD Daily Chart Study.

Crude palm oil opened higher and tested above the resistant line but no follow through brought the market down lower to closed at 2242 retreated 24 points with higher volume traded. At closed price still remained above the middle Bollinger band = market still traded in postive territory. However, Bollinger band width turned narrowing = market will likely to stay side way range bound. MACD Histrogram also taken a step lower = there are more seller activities participated in the market today. Overall market still trading in the positive zone with possible side way market. Fundamentally, export figure released today shows some improvement follow by increase in stocks and output neutralised the positive sentiment toward crude palm oil price. 
When to buy : buy at support or weakness with larger cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.  

20091110 1833 FKLI EOD Daily Chart Study.

FKLI closed 1272 down 1 point in high volume after morning gap up followed by profit taking activities on the afternoon session. Today black bar candle touched the upper Bollinger band and closed lower but stayed above the middle Bollinger band with the Bollinger band width expanding = market still remained in positive tone. MACD Histrogram risen and penetrated into the positive zone marginally = buyer still outnumbers seller after some profit taking activities. Chart wise, the uptrend is still intact but today candles forming a dark cloud cover formation (2nd formation since 16Oct2009) with high volume should not be taken lightly. 
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

20091110 1628 Dow Jones EOD Daily Chart Study.

The Dow march 203.52 higher to closed the day strongly at 10226.94 level. The 10120 resistant level will now became the immediate support line for DJIA. Price closed higher forming a wide range bar candle above the upper Bollinger band with the band width expanding = the bullish sentiment continues but the upward price movement is a little over extended. MACD Histrogram lifted higher into the positive zone = Total retreat of seller from the market as buyer won the battle. Uptrend market remain intact but due to the over extended price surged, the Dow could have some consolidation take place today.

20091110 1511 Crude Palm Oil Data by MPOB

Malaysia Palm Oil Board Oct 2009 Data : 
  • Oct 09 Export up 11.75% vs Sep09 
  • Oct 09 End-Stocks up 25.03% vs Sep09
  • Oct 09 Output up 27.43% vs Sep09

20091110 1449 Crude Palm Oil Export up 21.9% - SGS

Crude palm oil export surge 21.9% to 421,311 tonnes for the period of 1~10 Nov 2009 according to SGS export cargo surveyor.

20091110 1328 FKLI Mid Day Hourly Chart Study.

Due to DJIA overnight surged, FKLI gap up 6.5 points higher to opened at 1279.5 and hit another new high at 1281.5 follow by profit taking activities to closed unchanged at 1273. The last hourly candle still holding up above the middle Bollinger band = uptrend still intact. However, Bollinger band width started to turned narrowing = market tends to stay side way range bound to digest the upward surged this morning. The profit taking activities intiated also pressed MACD Histrogram lower below the zero line. A mild consolidation are like to take place in the afternoon session but market can resume its upward movement anytime.  

20091110 1310 FCPO Mid Day Hourly Chart Study.

FCPO gap up higher during morning opening and traded higher but the lack of supporting volume pushed it down back to closed at the opened price of 2270 up only 4 points although export figure released appears to be a positive one. Chart wise, price maintained itself at above middle Bollinger band within an expanding band width = FCPO still possessed the potential to trade higher. MACD Histrogram also climb higher into the positive zone = buying activities still in control of the market. The only doubt here will be the insufficient volume traded and should monitor volume transaction developement in the second session for any opportunity to initiate long position.

20091110 1150 KTB Daily Chart Study.

Lately there were some significant volume coming into KTB with price edge up slowly for the past 4 days and is now trading above the middle Bollinger band. Chart wise, all indicators are giving a positive outlook for KTB with the immediate resistant target rest at 0.285 and should this level break, the next target will be at at 0.32 ~ 0.35. Support stands at 0.205 level.
PS: This is not a fundamentally strong counter.

20091110 1029 Crude Palm Oil Export Up 18.8% ITS

Crude palm oil export up 18.8% to 403,302 tonnes for the period of 1~10 Nov 2009 by ITS export cargo surveyor.