Tradewinds Plantation Berhad (TWSPLNT) is an investment holding company. The company, through its subsidiaries, cultivates oil palm, rubber, and animal husbandry, processes palm oil and kernel, and provides landscaping consultancy, design, and contract works.
TWSPLNT reached a significant major Wave 4 low at RM2.65 on 8 August 2011 with grossly oversold and bearish chart signals. Due to all its positive indicators, it is likely to surge to its obvious upside Wave 5 targets (of RM4.68 and RM5.42) and resistance levels above.
ACCUMULATE (TECHNICAL) on dips for TWSPLNT, with stop-loss at RM3.49.
The daily, weekly and monthly indicators (like the CCI, DMI, MACD, Stochastic and Oscillator) are firmly positive and now depict the fine indications of TWSPLNT’s prolonged price strength. We expect TWSPLNT to remain very firm on any weakness to its support levels of RM3.51 and RM4.17. Our technical upside targets for TWSPLNT are RM4.68 and RM5.42. Stop-loss is at RM3.49.
(Information from MBB)
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