Ever since CMCO started, we are witnessing on skyrocketing Palm Oil Prices. Which fundamentally relates to this stocks. On technical side of it, last Friday the counter closed around Fibonacci golden zone area, also with a fresh resistance become support zone. Risked around 5% and target price 15% or hold for longer terms.
As Stochastic is showing a sign of an uptrend, with the price is at the long-term resistance line. I'm putting my stop-loss narrow at 1.16957, just in case any possible breakout can happen and take profit around 1.17765 with almost risk-and-reward ratio 2.68. All the best!
