Simple13 Trading IdeaSector Update:
The plantation index has been the strongest performing sector recently, showing resilience and upward momentum.
Stock Pick:
From the plantation stocks, SOP (Sarawak Oil Palms) stands out. I’m waiting for a pullback to enter at an attractive price.
Current Price: RM 3.55
Trading Plan
Entry Area: RM 3.55 to RM 3.30
Plan to start accumulating if the price dips into this range, which aligns with a fair risk-reward setup.
Take Profit Area: RM 3.55 to RM 4.34
This target range offers potential upside. Gradual profit-taking is suggested if the price reaches this zone.
Cut-Loss Level: Below RM 3.30
If the price falls below RM 3.30 and drops under the 20 EMA, consider a cut-loss to limit potential downside, as the pullback may extend further than expected.
Summary
With SOP in an outperforming sector and a strong technical setup, I’m looking for an entry upon a pullback. This plan offers a favorable risk-to-reward ratio and a defined structure to manage risk. MYX:SOP
Disclaimer:
This is for informational purposes only and not a recommendation to buy or sell. Please conduct your own research and assess your risk tolerance before investing.
