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