Should we bull on Plantation Sector ?

There are several reason to bull on plantation sector especially those which are focusing on oil palms

1)  Malaysia may reduce palm oil tax . If this succeeds it will greatly increase the profit for the plantation sectors. Check this from Business Times

2) CPO prices is the lowest since year 2008. There might be a correction on the CPO prices and now it is rebounding

   





Let check the Plantation Index Sector

Indicators
1 ) Trendline -  Below the downtrendline (Bearish)
 2)  Support/Resistance - Formed Lower Low  (Bearish)
3) MACD -Formed 4G1R Signal (Bearish)
4) RSI - Inclining and testing 30% (Slightly Bullish )  .If break the 30% it will indicate bullish
5) STO - Inclining and testing 20%(Slightly Bullish )  .If break the 20% and bullish crossover it will indicate bullish
6) Ichimoku - a) Below resistance cloud (Bearish). 
                       b) Conversion line below the base line (Bearish). 
                       c) Price below the baseline ( Bearish)
7) Candlestick BUllish Harami ( Bullish). 

Conclusion:
Bearish - If break above the downtrendline it will show that is bullish back. This will happen if either one of the condition above meet.


Check the Counter Performance for Plantation Counters

 

A few laggards counters to monitor

1) TDM
2) RSAWIT
3) SOP
4) GENP
5) BSTEAD
6) KLK

Leading
1) Kulim
2) UTDPLT