First Resources – [ First Thing To Look Out For]

7th November, 2018, 8:33 AM

First Resources – [ First Thing To Look Out For] First Resources 7th Nov 2018

Chart Source: Poemsview 7th Nov 2018

First Resources a palm oil related stock seems to have formed a nice base at around $1.53. But first things first it’s always good to check out their results before entering as its results season.

We have mentioned a few things that they might be some potential dangers in entering a stock nearing results. As results could send a stock gapping up or down which we wouldn’t want to be caught in. As market expectation for results can be differing or a forward guidance could be dim these could spell disaster for a stock. So do take note of that.

As for First Resources, its results is usually released around 2-3 week of Nov. So we’ll have to bear that in mind.

Currently, First Resources seems resisted at $1.59 which is also the 20ema. Breaking above that might see further upside.

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Yours

Humbly

Kelwin&Roy

First Resources – Uptrend Intact

16th February, 2017, 11:48 PM

First Resources – Uptrend Intact

first Res

First Resources is a palm oil related stock we been mentioning since January and has sinced moved up to the key resistance of $2.02. It has retraced back to the uptrend line and remained above it keeping it nicely intact. We can see that it has recently rebound from the 50 days simple moving average and the uptrend line too.

It has an increased in volume today and with palm oil rising First Resources might stand to benefit. Two things could happen.

  1. It could break out of the horizontal resistance of $2.02 and might move to $2.06 and higher
  2. It could hover here and test the uptrend support line and hopefully breakout of the range

So we’re watching to see if it can breakout and will put a stop loss at  1.96 or 1.94.

Yours

Humbly

Kelwin&Roy

First Resources – First Target Reached and Beyond

19th January, 2017, 10:54 PM

First Res

First Resources just posted last night and it had an excellent run this morning. Of course once again we would like to remind our readers that not every stock runs like this and we can’t expect every stock to run that much. Slow and steady we emphasize. =) Hope you all managed  to benefit and learn something from our sharing.

First Resources does have a history of moving up for a few days so let’s see if that will happen. For now First Resources is currently at its horizontal resistance of $2.02. It hit there and pulled back and closed exactly at $2. A nice round number. We’re looking to see if it can break $2.02 and it might trade up to test  2.06 then eventually $2.12 Remember to shift your trailing stop up ya.

Yours

Humbly

Kelwin&Roy

First Resources – first thing to note

18th January, 2017, 10:20 PM

First Res

Looking at First Resources the first thing to note that its now testing the downtrend line for the third time and has seen an increase in volume today too.  Palm oil related counters like wilmar had a good run today too.

How we’ll trade this is to wait for it to breakout of that trend line convincingly then we’ll consider an entry . Another good point is that it closed above it’s 50 days moving average too. Our stop loss would be at 1.89 . And we would consider using Poems CFD to ride this position if we’re right to 1.97 first then move up our trailing stop.

Yours

Humbly

Kelwin&Roy

First Res

22nd August, 2016, 3:17 PM

First Res, a counter that we’re looking at  it for a short now ever since we were bullish back in end july  due to that surge in volume. It has also reported a fine results recently

http://singaporehumblestock.com/2016/07/28/first-res-wilmar/

Will it reach $2 then we’ll short? or will we short in the coming days. We’ll be watching the candlestick patterns for signs of weakness. Stay tune. We have not shorted yet.

Yours

Humbly

First res, Wilmar

28th July, 2016, 1:43 PM
First Res July 2016
First Res July 2016

First Res had a surge today despite market being down, It broke its mid term downtrend line today and moved up quite nicely. It came as a bit fast so if we’re unable to catch this first up wave then lets wait for either a retracement or when it breaks 1.64 and play a break out trade. Our eventual target would hopefully be 1.785

Wilmar July 2016
Wilmar July 2016

Our dear wilmar played punk with us, it went below 3.05 but recovered at the end of the day. Currently very near the resistance of 3.12 and our stop loss but if you are more generous then perhaps a stop loss of 3.18 could be possible too. Wilmar on the back on a possible bad results is due to report on 11 Aug so we are hoping that it should going back to 3.30 level. If it does we might take another short at it =)

Yours

Humbly

First Res

7th July, 2016, 3:14 PM
First Res June 2016
First Res June 2016

If you been following us you would know that we been fairly bearish on first Res. The market for the past week has been moving up but we noticed first res hasn’t been moving much but in fact it came down and today it broke its recent support of 1.55 and its below that now. It might come down to 1.50 and it that still don’t hold then 1.45 will be the next target. Our stop loss would be 1.56 or 1.60

Yours

Humbly

Update on First Res

20th February, 2016, 8:36 AM
First Res Feb 2016
First Res Feb 2016

Still remember our post on first res previously? It hit our resistance line in the previous chart and dropped but didn’t drop as much =( as we would have hope for it to so and broke up instead. So if you have placed your stop loss at the resistance line ur loss would have been minimal.

first res.png

Now for an update , it has come up to the longer term downtrend line and once again if you believe in the pattern you would hope for it to start coming down. Like us we are watching to short as it as reached the resistance. Our stop loss would be at $2.04.

Yours

Humbly

 

First Res

2nd February, 2016, 2:52 PM
first res Feb 2016
first res Feb 2016

 

 

Lets take a look at this stock called first res. Judging by its pattern , we can see that there is a pattern forming whenever it hits that downtrend line that we drawn it seems to come down and rebound back at the lower channel.

As of now, it seems that it has hit that upper trendline channel at about $1.77, whats next for this stock? Well, if you believe in the patterns then u might say that it might start to come down which we hope so too. =) so if we were to short we would short at about $1.77 and have a tight stop loss of about $1.78-1.795. In this case our risk reward ratio would be a good one if we target $1.62 for our downside target. That works out to about a 5 times risk reward ratio . We risk about 3 cents to try to gain about 15 cents of profit. =) A worthy trade we feel.

 

Yours humbly