We have picked 2 stocks from the SGX for our report today. Both stocks are crude palm oil stocks. Crude palm oil price has rallied from below RM2,000/per ton to current price of RM2,800 per ton. This rise in price is likely to benefit CPO producers. Both First Resources and Bumitama Agri are likely to benefit from this rally in CPO prices. First Resources trade duration is 3 weeks while Bumitama is the trade duration is expected to be 10 days.
See MoreWe have picked 2 stocks from the NYSE for our report today. Both are short sell calls. Both stocks have closed below the Ichimoku cloud 2 days ago, triggering a bearish trend for both stocks. Last night, price stayed below the cloud and we could see price going lower to the next support level or Ichimoku price target later in the month. Trade duration is expected to be about 3 weeks
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