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3961-3980 of 6778
SINGAPORE, Feb 11 (Reuters) - Malaysian palm oil will retrace further to 3,835 ringgit per tonne, as a correction has not been completed after a five-wave cycle topped 3,967 ringgit.
A Fibonacci retracement on the rise from 3,622 ringgit to 3,967 ringgit reveals the next correction target at 3,835 ringgit, the 38.2 percent level, after the 23.6 percent level 3,886 ringgit was narrowly missed.
A resistance is at 3,967 ringgit, the presumed wave (5) peak, a rise above which will invalidate the current wave count, and the wave (5) will then extend to 4,060 ringgit.
** Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own. No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses. ** (Reporting by Wang Tao Editing by Clarence Fernandez) ((wang.tao@thomsonreuters.com)(Reuters Messaging: wang.tao.thomsonreuters.com@reuters.net))
Golden Agri-Resources –Update (Jasmine Lee)
Recommendation: Hold
Previous close: S$0.715
Fair value: S$0.74
- GGR moving forward with some positive development on the green front
- Keeping all our production and earnings estimates at the moment. Expect earnings of upstream plantation companies to register stronger profit margins and earnings in 4Q10, due to high CPO prices sustained in the quarter.
- However our valuation model indicates that GGR is fairly valued, and hence we maintain our Hold recommendation on the stock with a target price of S$0.74.
/PS for yr ref//
Business Times
Golden
Agri inches higher on forest conservation plan 10/02/11
Published February 10, 2011
Golden Agri inches higher on forest
conservation plan
By LINETTE LIM
SHARES of Golden
Agri-Resources (GAR) rose yesterday on news of the company's latest forest
conservation initiative. The counter closed trading 0.7 per cent higher, at 72
cents.
GAR and its
subsidiaries, including PT Smart, yesterday announced a forest conservation
policy (FCP) with the support of the Indonesian government.
The FCP will ensure
that there will be no development on high carbon stock (HCS) forests, peat
lands and high conservation value (HCV) forest areas.
GAR and its
subsidiaries have been under fire since Greenpeace published a damning report
on its environmental practices last April. This led to a loss of business, with
Unilever and Nestle dropping PT Smart as their supplier.
In response, GAR
commissioned an independent investigation headed by Control Union Certification
and the BSI Group.
The FCP that was
announced is in collaboration with non-profit organisation The Forest Trust
(TFT).
TFT is also currently
working with Nestle to adopt 'responsible sourcing guidelines for its palm oil
suppliers'.
Peter Heng, GAR's
managing director of communications and sustainability, denied that the FCP is
a reaction to the loss of Nestle's business. 'These actions are internally
driven,' he said.
Fieldwork related to
the FCP will be conducted in the first half of this year and it is expected to
take six months.
It will determine how
many of its plantations are HCS forests. Land with more than 35 tonnes of
carbon per hectare will be used as the provisional definition of an HCS forest.
Mahendra
Siregar, Indonesia's
Vice-Minister for Trade, commended the initiative as 'an example to find
concrete solutions and a model for resource-based sectors which is key to Indonesia's
sustainable development'.
He had separately
announced an Indonesia
sustainable palm oil certification initiative that will start in 2012. The
trial run of 20 companies will involve two of PT Smart's subsidiaries, a GAR
spokeswoman said.
Referring to the
implementation of the FCP, Mr Heng said: 'At this moment, the additional cost
of this policy will not be material.'
GAR and its
subsidiaries are also working with TFT to ensure that all its plantations
achieve roundtable for sustainable palm oil certification by December 2015.
According to TFT's
executive director Scott Poynton, Greenpeace has said that it is cautiously
supportive of the announcement and will continue to monitor GAR's progress.
ey i thought support is at 0.68(or changed liao??)
GuavaXF30 ( Date: 10-Feb-2011 20:17) Posted:
May not have to wait long. I see this below 0.70 tomorrow and below 0.67 by next week.....
epliew ( Date: 10-Feb-2011 19:42) Posted:
| share with me leh, when are u going to short |
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May not have to wait long. I see this below 0.70 tomorrow and below 0.67 by next week.....
epliew ( Date: 10-Feb-2011 19:42) Posted:
share with me leh, when are u going to short ?
Isolator ( Date: 10-Feb-2011 16:24) Posted:
Waiting to buy around 64ct... |
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share with me leh, when are u going to short ?
Isolator ( Date: 10-Feb-2011 16:24) Posted:
Waiting to buy around 64ct... |
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Lol. 10.12am++ Distribution of 0.730 stocks in progress.
Greenbean ( Date: 10-Feb-2011 19:17) Posted:
Ref. to Collection of 0.715 stocks during 9.00am ++
Greenbean ( Date: 10-Feb-2011 19:08) Posted:
My interpretation: Discreet collection keeping the price down using programmed timer.
example:
Trader no. 1 : 1 lot sell down frequency
Trader no. 2 : 2 lots sell down frequency
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Ref. to Collection of 0.715 stocks during 9.00am ++
Greenbean ( Date: 10-Feb-2011 19:08) Posted:
My interpretation: Discreet collection keeping the price down using programmed timer.
example:
Trader no. 1 : 1 lot sell down frequency
Trader no. 2 : 2 lots sell down frequency
Sept11 ( Date: 10-Feb-2011 11:17) Posted:
| Anyone notice there was a one lot follow by one lot buying @ 0.73? Secret code signal buy??
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My interpretation: Discreet collection keeping the price down using programmed timer.
example:
Trader no. 1 : 1 lot sell down frequency
Trader no. 2 : 2 lots sell down frequency
Sept11 ( Date: 10-Feb-2011 11:17) Posted:
| Anyone notice there was a one lot follow by one lot buying @ 0.73? Secret code signal buy??
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small small lots. i dun wanna hold my shares of contra turnin into an investment. I got my investments lots n my contra lots..of course i jump in n jump out at e slightest. But i get what u r sayin :) thats why i dun jump in when im not at least 80 percent sure.
iPunter ( Date: 10-Feb-2011 16:44) Posted:
Never play contra (without intending to settle with cash)...
This is not the way to play shares...
Learn from Gaecia...
I am sure she sometimes do contra before the due date,
esp when there's a big profit, but that's exceptional cases... 
yummygd ( Date: 10-Feb-2011 15:59) Posted:
| someone trying to collect cheap la...gar gar always have..so hard to contra |
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Never play contra (without intending to settle with cash)...
This is not the way to play shares...
Learn from
Gaecia...
I am sure she sometimes do contra before the due date,
esp when there's a big profit, but that's exceptional cases...
yummygd ( Date: 10-Feb-2011 15:59) Posted:
someone trying to collect cheap la...gar gar always have..so hard to contra.
iPunter ( Date: 10-Feb-2011 11:29) Posted:
Could be just 'testing' the trading platform is functioning smoothly, etc., etc..
never make assumptions...
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Today or rather now is a rare opportunity to buy!
Waiting to buy around 64ct...
someone trying to collect cheap la...gar gar always have..so hard to contra.
iPunter ( Date: 10-Feb-2011 11:29) Posted:
Could be just 'testing' the trading platform is functioning smoothly, etc., etc..
never make assumptions...
Sept11 ( Date: 10-Feb-2011 11:17) Posted:
| Anyone notice there was a one lot follow by one lot buying @ 0.73? Secret code signal buy??
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everyday give false hope. dropping again. Depressed~
Could be just 'testing' the trading platform is functioning smoothly, etc., etc..
never make assumptions...
Sept11 ( Date: 10-Feb-2011 11:17) Posted:
| Anyone notice there was a one lot follow by one lot buying @ 0.73? Secret code signal buy??
|
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Anyone notice there was a one lot follow by one lot buying @ 0.73? Secret code signal buy??
Not rule out GAR price might be pulled back by some institutional trader to shake off weak holder so that they can buy in @ cheaper price...
Typo error, should be --> > feel good
factor.
Sept11 ( Date: 10-Feb-2011 10:45) Posted:
Another feel good actor: Full Year Financial Statement And Dividend Announcement For The Year Ended 31 December 2010 is around the corner......Possibly on 27 Feb 2010. Record earning wouldn't be a surprise if u look @ the palm oil prices last year!
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Another feel good actor: Full Year Financial Statement And Dividend Announcement For The Year Ended 31 December 2010 is around the corner......Possibly on 27 Feb 2010. Record earning wouldn't be a surprise if u look @ the palm oil prices last year!
