TECHNICAL AND FUNDAMENTAL ANALYSIS

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BPLANT (5254) - Technical Analysis

December 29, 2018

 Technical Analysis

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- BPLANT initialed downward trend on 06.09.18

- There is a buying force on 31.10.2018 but it is unable to sustain on RM0.935 and continue to decrease to RM0.655.

- MACD and RSI turn bullish on 20.12.2018

- With Northern Doji appeared on 26.12.2018, BPLANT shares price increase in 2 trading day with moderate transaction volume.

- BPLANT might enter consolidation phrase in coming trading days.

- Resistance, R2: RM0.935

- Resistance, R1: RM0.800

- Support, S1: RM0.7150

- Support, S2: RM0.655

 

Technical Analysis

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- Palm Oil price entered downtrend at beginning of 2017

- It dropped until the neckline (based line 2009 - 2018) and re-bounce back above the neckline within 5 trading day.

- It lead a positive impact to Palm Oil plantation' profit & revenue.

 

 

 

 

 

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