FCPO daily chart Gap Up and bullish may continue to 0.0% levelFCPO daily opens gap up due to fundamentals, following CBOT bullish momentum and Indonesia palm oil stockpile down m/m.
Another reason of reversal was price hit the bottom trendline from Chart W1.
Price may move in ranges if it reaches 0.0% level.
Palmoil
FCPO COMPLEX CORRECTION WAVE 4 COMPLETE??FCPO ELLIOTT WAVE DAILY CHART ANALYSIS
Complex correction of wave 4 forming WXY double combo.
Where X wave = triangle , X = 3 structure & Y = irregular flat.
For this counting, im assuming the cycle of wave 4 already complete and expecting the decline movement from 2498 to unfold into five wave movement and my next target is at 2255 area.
Long DKL from Multidiagonal BreakoutThe initial breakout here was actually earlier in 2017, but now that the upper diagonal (that was acting like a price ceiling) has been taken out, I think we could be due a bull run here.
On this rare occasion I also have fundamental research notes too:
themaskedstocktrader.blogspot.co.uk
CLX: Clorox bleeding cash, structural shortI think this is a really good short setup. The company is bleeding cash, funding their huge dividend with debt, not complying with regulations regarding the usage of sustainable palm oil on their products and the technical chart shows an ideal entry against resistance here.
The entry is very tactical, a perfect technical setup, paired with bad fundamentals for this company, with only a 1% earnings yield, a 1.2% free cash flow yield, and falling free cash flow and after tax margins.
Good luck if taking it.
Ivan Labrie.