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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