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Latest Forum Topics / All-S Equities Com  Post Reply
Crude Palm Oil [CPO] Stocks
pharoah88
Supreme
12-Nov-2009 12:53     
 
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Singapore Traders Spectrum
Wired Daily

DBS Group Research . Equity 11 November 2009

Our analyst is reviewing his forecast and TP for

the stock. Our plantation analyst believes that CPO price,

currently at RM2224/MT, may firm in December. His current

forecast is an average of RM2300/MT in 2009. However,

technically, we caution that CPO stocks have in the first

place, ignored the correction in CPO price since May this

year. CPO price reached a peak of nearly RM2900/MT in May

and has been in a correction trend since while CPO stocks

ignored this and continued to trend higher. Thus, from a

technical perspective, we do not feel excited about CPO

plays, especially the purer CPO plays, even if CPO price is to

firm a little. (refer to Weekly Comments dated 2 November)

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