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CPO prices up! Good news!! Golden Agri should be releasing their report against the Greenpeace accusations very soon too. If the report is favorable, we should see a few cents increase in the share price. Anyone has any insights?
good news... thanks!
CPO price is moving up impressively this morning. We should see some upward movement this afternoon.
No profit taking this time before STI > 3,000.- I suppose!
Sept11 ( Date: 21-Jul-2010 10:05) Posted:
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Consolidation state in place, not rule out some profit taking, eventualy will break 0.60.... What do u think?
I believe price will be having some adjustment due to overbought unless some stimulative news to push it up again.
However, stock is hard to expect, we don't know what action of big investor.
I sold all already will buy again when price is tempting.
Yes, you R right!
Volume & price looks overbought but it's due to oversold recently from 0.62...
keepinvest ( Date: 20-Jul-2010 17:20) Posted:
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CPO price has been moving up a lot recently, hope it can continue the momentum.
Sept11 ( Date: 20-Jul-2010 16:58) Posted:
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Price surge like nobody biz! I like it!
Buy 0.575 Sell 0.58
Time Last Vol
15:50:25 0.58 2000
15:49:56 0.58 2000
15:49:27 0.58 1000
15:49:15 0.58 68000
15:48:30 0.58 20000
15:47:25 0.58 31000
15:47:23 0.58 3000
15:47:16 0.58 1000
15:46:59 0.58 3000
15:45:19 0.58 1000
15:43:59 0.58 3000
15:41:26 0.58 1000
15:40:58 0.58 1000
15:40:18 0.58 1000
15:39:38 0.58 1570000
15:38:25 0.58 3000
Since today already touched 0.58, according to my chart, next resistance will be 0.60 which will be attainable within this week....
Strong buy @ 0.575, today should closed @ 0.575.
From The Edge, 16 July (Fri)... Hope the target price of $0.75 will be materialised
Singapore plantation stocks rallying as interest piqued by bullish Morgan Stanley report on outlook for industry, according to Dow Jones.
Golden Agri-Resources (E5H.SG) +4.6% at $0.565, Indofood Agri Resources (5JS.SG) +4.7% at $2.23, First Resources (EB5.SG) +3.8% at $1.10, Kencana Agri (E5H.SG) +5.1% at $0.31.
House expects palm oil producers to benefit from increased demand from China, India in near term, with firmer RMB, higher base wages underpinning Chinese consumption.
Morgan Stanley cites rising demand for biofuels from developed countries amid penchant for more environmentally-friendly products as another catalyst.
Morgan Stanley tips Golden Agri as biggest beneficiary of CPO price rebound: “Golden Agri has the youngest tree profile, the most landbank within (the sector) and the highest EPS sensitivity to CPO prices, which we are bullish on.”
Rates Golden Agri, Indofood at Outperform with respective targets of $0.75, $2.60; no ratings for other stocks.
PT SMART Tbk (“SMART”) and its parent company Golden Agri-Resources
Ltd (“GAR”) clarifies statements made by Greenpeace in its report “How Sinar Mas is Pulping the
Planet”. Contrary to the report, SMART is a responsible company that is committed to producing
sustainable palm oil. SMART manages all oil palm plantations of GAR. As a business, SMART
complies with national laws and regulations and the principles and criteria of the Roundtable on
Sustainable Palm Oil (“RSPO”). The commitments apply to all plantations owned and managed by
SMART and GAR.
“In line with our sustainability commitment, SMART supports the two-year moratorium recently
announced by the Indonesian government on the conversion of primary forests and peat lands into
oil palm plantations. This initiative will enhance SMART’s own efforts in preserving primary forests,
peat land and protecting biodiversity in Indonesia. The two-year moratorium is an opportunity to
review and strengthen Indonesia’s policies such as land reconciliation and Greenhouse Gas
Emission measurements,” said Daud Dharsono, President Director of SMART.
He added, “SMART is absolutely against burning and established a zero burning policy in 1997,
ahead of the Indonesian government.” The national policy on zero burning was subsequently
established in 1999.
The company is committed not to plant oil palm trees on peat land, primary forests nor convert
land with High Conservation Value. GAR aims to obtain RSPO certification for all of its existing
palm oil operating units by 2015, while some of its plantations are in the process of obtaining
RSPO certification.
In order to verify recent reports and allegations by Greenpeace, the company has engaged Control
Union Certification (“CUC”) and BSI Group (“BSI”), two of the world’s leading certification bodies
who are also accredited by RSPO. CUC and BSI are being assisted by two Indonesian experts
from the Bogor Agricultural Institute, Prof. Dr. Bambang Hero Saharjo and Dr. Ir. H. Yanto
Santosa. The emphasis has always been to ensure that this verification exercise is conducted in
an independent, scientific, and well grounded manner.
As Sinar Mas is a brand name and does not refer to any operating business entity, GAR and
SMART are not subsidiaries of Sinar Mas. GAR is founded in 1996, and is listed on the Singapore
Exchange since 1999. SMART listed its shares on the Indonesia Stock Exchange in 1992.
As listed companies, both GAR and SMART comply with the relevant stock exchange rules and
regulations. Mr Dharsono said, “GAR and SMART have their own independent board and
management and they are separate from the other companies alluded to by Greenpeace.”
The chart turn bullish now. Guys, what are you waiting for....?
OMG, now reached 0.575 0.58. Something is happening!
Next resistant = 0.58
Yes, I agree with you.
I cash out some counters today also, but didn't touch GoldenAgr.
zhixuen ( Date: 16-Jul-2010 19:35) Posted:
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It's showtime. GAR never fail me to make my millionaire dream.....
On Friday, Golden Agri had a strong breakout and closed at $0.56 with high volume of 0.19 billion shares traded.
A white candle stick with long upper shadow shown that the investors began to take profit as it approaches its resistance.
RSI & MACD are bullish as both indicators began to trend upwards.
Important Resistance of Golden Agri: $0.565
Immediate Support of Golden Agri: $0.55
Currently the prices are supported by the technical/ Fibonacci 50%/100 days MA at $0.55.
Depending on individual risk/reward ratio, it may not be a good time to enter this counter at this moment for long term traders.
Golden Agri will have a ridge task in breaking the gap resistance from $0.565 to $0.58 as proven by the long upper shadow marked today. However we would expect the support at $0.55 to be strong as well.
SEE ANALYSIS OF HI-P
Therefore buying at $0.55 support can be a wise choice if applicable.