Consolidation finished. Up, up and away for new height..........
( 4 days ago | Report Abuse
Finally 1.35 support hold, have you managed to catch the boat? With a inverted hammer yesterday and today white candlestick, hopefully traders push the price up and Jtiasa can join a last leg of a small Raya relly next week. Continue to watch the show.....)

Watch out! Palm oil future seems painting a flag, let see if it can successfully forming a flag.............

Malaysian palm oil futures held below MYR 4,250 per tonne for the second session in a row, as traders digested data from the Southern Peninsular Palm Oil Millers Association (SPPOMA) that showed production for March 1-20 climbed by 22.4% mom. At the same time, markets awaited wider output figures from the Malaysian Palm Oil Association for further guidance. In key buyer China, official PMIs data for March are set to be released next week. For the week, the contracts are pointing to the first drop in five, slipping around 1.0% so far, dragged by recent profit-taking after prices hit their highest level in over a year last week at more than MYR 4,300. In the meantime, prices of rival edible oils were lower while crude oil fell further due to the possibility of a nearing Gaza ceasefire. Elsewhere, the first integrated palm oil processing unit in top buyer India has started its commercial operations, marking a step in the country's journey towards self-reliance in edible oils.

With 2 day bullish Engulfing candlestick pattern, soon will see Genting challenge 5.11. Are you still in the boat? https://www.investopedia.com/terms/b/bullishengulfingpattern.asp

RM5 should not be a big resistance, 5.10-5.11 is. After 5.11 will be 5.40 based on TA as follows:
(TA technical analysis-Genting Berhad need confirmed breakout above the RM5.10 recent high to extend recovery towards RM5.40, with next hurdles at the 123.6%FP (RM5.60) and 138.2%FP (RM5.95) ahead, while the rising 100-day ma (RM4.56) provide uptrend support. Genting Malaysia will require decisive breakout above the 19/3/21 high (RM2.87) to fuel uptrend momentum towards RM3.00, with tougher hurdles at 123.6%FP (RM3.15) and 138.2%FP (RM3.33) going forward, while uptrend support also come from the rising 100-day ma (RM2.62).)

Finally 1.35 support hold, have you managed to catch the boat? With a inverted hammer yesterday and today white candlestick, hopefully traders push the price up and Jtiasa can join a last leg of a small Raya relly next week. Continue to watch the show.....

4.88 become strong support again after closing the gap. hopefully it can stay at this range for longer period to build stronger support.

Good. closing the gap, don't rush. up slowly.

Hopefully with vegetable oils rebound, Jtiasa can state a doji at 1.35 today, then tomorrow will decide the direction

Good show now. Bull Bear fighting while cpo future rebounding, MYR/USD droping, who will win? not for long term investors

If rebound from 1.35 not successful, strong support at 1.25. it is bottom of medium term uptrend channel

Not sure if finish washing, seems finished. If GENINE stop selling, rebound from 1.35 successful, the wave may bring everyone to 1.62, to ride on Raya small bull wave.

GENM bottom of bolinger band and MAV20 at around 2.81, any drop below it is a good buy.
Genting Bottom of bolinger band is at 4.68, bottom of uptrend channel is at 4.74, MAV50 at 4.84.........

Ha, 5 and 4.94 can not hold. It seems tomorrow 4.80 can top up Genting

Unfortunately selling pressure haven't finished.........

Start moving due to dividend?

If targrt rate 6.3%, price 0.95. If target rate 5.3% (US short term interest rate), price 1.13, if target rate 3.9% (CIMB FD rate), price 1.53. Any comment?

TIME to buy @1.35?....Have you prepare your bullets?

( Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD
3 days ago | Report Abuse
Divergence of short term share price and cpo price is happening, Jtiasa may be testing support @ MAV20 near 1.35 to correct oversold technical before rebounding.)

Divergence of short term share price and cpo price is happening, Jtiasa may be testing support @ MAV20 near 1.35 to correct oversold technical before rebounding.

Divergence is happening, Taann wanted to test support to correct oversold technical.

GENP today ex 13 sen dividend will contribute to Genting coffer on 2-April

Jtiasa learn from Maybank action post dividen? Great....

Bull Bear struggling at 5.00. Who may win in March? I am not optimistic today because KLCI 1555 double tops shadow ..........but will close eye and hold till May 1st Q results to decide.

Uptrend declined. RM5 support still effective.......let stay a few day at 5

I am wrong again, mother lead son.....
(Today Son move mother?)

Today Son move mother?

Signal released.
MR CHUAH HOON PHONG 01-Mar-2024 Acquired 36,000 0.775
MR CHUAH AH BEE 01-Mar-2024 Acquired 36,000 0.775

I was wrong again, today is a hammer, if volume bigger, tomorrow GENM may state a breakout as MACD may cross signal, chances is high while share price above MAV20, RSI slightly above 50%, Stochastic already hooked up, - Mother Genting MACD crossed signal yesterday.
(Bet tomorrow a doji
22 hours ago)

Thanks Goldgent, this news change my view on TauRX HMTM (LMTM) to believe it may be approved in near term (may be 2025). Taiwan is traditionally supplier of US. if HMTM cannot be approved by US, although it may be approved by other countries, the value will be axed and the economy of scale may not be achieved .

(He forwarded this article for our reading 旭富觀音廠規劃2025年下半年投產
https://news.cnyes.com/news/id/5443124)

Genting unique way of testing support and resistance- it test from top to bottom. 4.95 and 5.02 tested ok d. it is may be also because too many investors trapped many years at the top from 1999-2023 at 4.90-5.40.

Local funds are struggling to start a Raya bull, hope it can reach 1570 which is a breakout of KLCI uptrend channel. if fail, double top of 1555 will bring KLCI to correct to 1490........

Hopefully a doji or a hammer today

Bet tomorrow a doji

Next resistance around 5.40. Holding power is the key. Actually it is insane to predict share prices.
If sentiment very strong and 5.37 can be crossed in 1st attempt, then potentially 5.37+0.72=6.09 as shown in the double swards video ; if can't, forming a flag again, if the flag is ranging from 5.40-5.05, then next target may be 5.05+0.72 =5.77, similar to target price of IB.
https://www.youtube.com/watch?v=dIazk_tO1D0

Malaysian palm oil futures were around MYR 4,090 per tonne after briefly hitting MYR 4,140 in the prior session, amid a further drop in crude oil prices and weakness in rival vegetable oils on the Chicago Board of Trade. Meanwhile, top buyer India's palm oil imports sank to a 9-month low in February as buyers reduced their palm oil orders to increase buying of sunflower oil. Still, the contracts remained near their highest level in over 7 months, with fresh data from the industry regulator indicating palm oil stocks at the end of February fell to their lowest level since July 2023 while production hit a 10-month low owing to unfavorable weather and a shortage of workers. At the same time, bets of robust demand sustained ahead of the Ramadan fasting month and Eid-al Fitr festival. On cargo surveyor data, shipments of Malaysian palm oil products for March 1-10 grew 6.2% to 325,543 tonnes from the same period in February, according to independent inspection company AmSpec Agri Malaysia.

Any pull back opportunity to buy. Washing Again........

Today released February total palm oil level is MoM lower at 1,919,210 tones vs January 2,020,191, drop by 5%,
https://bepi.mpob.gov.my/index.php/stock/313-stocks-2024/1173-monthly-closing-stock-of-oil-palm-products-2024

Dont worry Dompilee, Genting will reach your average cost this year, most probably this May results.

You are right neohts, GenB nothing to do with Taurx. However they have their own story. GENP up today because 13 sen dividen on the way and higher CPO price, GENM up because 9 sen dividen ahead and expected better profit 1stQ 24

Retest 5.11 support. Good

Bought GENM @2.90. A Technical signal buy appeared last Friday. GENM technical is not as strong as Genting but Genting surge too fast.
https://www.youtube.com/watch?v=aZZKycFZnbs

Half day break 2 resistances 5.02 and 5.11, next is 5.25. Good

Short term target around 5.40. Slow Slow will be better......
Checked Bursa Nett Short position no Genting share but only GENM.
(From Jan to March chart, Fund in control big wash weak holders 2 times and small wash numerous times, only push over RM5 at 3rd attempts. 3rd attempt is pushed only after hot money escaped with planned " disappointed" QR. Therefore 4.90-5 will be strong support for Genting share price.
After hitting 5.40, if share price can form a flag again, ranging 5.40-5 thus from 5+0.72=5.72 as next target.)
(Despite many times wrong prediction, technically we can see that Genting 1st leg is 4.74-4.02=0.72 (November 23), after that it enter less reliable flag pattern until MACD reaching neutral zone, stochastic reaching oversold zone yesterday. With today rebound, RSI hook up almost reaching 50% and Stochatic %K %D crossed smoothed %D. Again if 4.90 resistance can be crossed and stay more than 3 days, chances is 2nd leg 4.65+0.72=5.37 may be targeted. Any gap up above 5.40..........)

Confirmed breakout from 4.88 towards breakout of 5.02. Good

GENM also state a techinical buy signal as follows:
https://www.youtube.com/watch?v=aZZKycFZnbs
However Genting chart is technically more beautiful than GENM as long as Genting can stay above 4.88 these coming few days

Next week to support Bursa KLCI is expected to be Consumer (Genting), Finance and Plantation Index

US and Japanese market are expected to start a correction in 1-2 weeks time until a suitable timing for US to start an election bull run. Bursa is struggling to start a Raya bull but not sure if can be successful (if KLCI can be supported above 1520 by local fund). Genting technically is good at last Friday to start a short breakout because currently share price is above ceiling of long term downtrend channel @4.88 and also above MAV20. MACD hooked up from neutral touching signal but haven't crossed, Stochastic %K %D is above smooth %D and above 50%, RSI is @50%, hopefully tomorrow is at least a doji and closed above 4.88 then breakout can be maintained

Let's forget about TauRx, currently buy on pullback Genting for better YoY and QoQ of Revenue and profit 1stQ 24 Genting Singapore, better YoY and QoQ Revenue and profit 1stQ 24 Genting Malaysia, poorer YoY and QoQ of Revenue and profit 1stQ 24 Genting Plantation............

I am curious why today so many transections, so many sellers and buyers? Foreign fund is selling and local fund is buying?

Just checked there is no shortist, I thing most dare not short Genting as ii is traded at a huge discount to sons.
https://www.bursamalaysia.com/misc/missftp/sblnt/NetShortPosition20240307.pdf
( Posted by KooSan > 52 minutes ago | Report Abuse
Let's burn the shortist..)

Today rest, awaiting Monday February CPO stock level data