Today's market is overall not very bullish, but plantation sec | Bursa Pilot Group

Today's market is overall not very bullish, but plantation sector itself is the winner today. If you look up any plantation counter, they definitely closed a bullish candle today.

Firstly, we must look at FCPO prices to have an idea of how the plantation sector will go. It had a rather sharp retracement after peaking around the 7000 area and recently it began to show signs of bottoming. This could mean the retracement has come to an end as FCPO could be looking to test it's 7000 resistance again soon.

Looking back at our local counters, as usual, there are some that travels faster than the others. In fact, some of them seemed to have move in advance of FCPO.

For instance, TAANN and TSH has broke out from the previous high resistance and surge towards new high areas. As compared to FCPO, which had just begun to rebound slightly.

The majority of the plantation counters all formed a strong bullish candle today. Looking at how strong TAANN and TSH is going, they could lead the rest of the plantation sector to flourish as well.
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