Disclaimer

Disclaimer:-Please note that all such analysis is provided by way of information only. All of the information was and should be taken as having been prepared for the purpose of reference only and that none were made with regard to any specific investment objective, financial situation or the needs of any particular person who may receive the analysis. Any recommendation or advice that may be expressed in or inferred from such analysis therefore does not take into account and may not be suitable for your investment objective.

Sunday, June 29, 2008

Indofood Agri 270608

After plunging dramatically from a high of 2.87 on 24 jun to a low of 2.45 today, Indofood Agri formed a Bullish Piercing Line when it gapped down on opening, before closing below the 2.60 resistance (red --) and right on the uptrend resistance (mid blue).

For confirmation of the trend reversal, we would need Indofood Agri ideally to gap up on opening, or at least stay above the 2.60 resistance (red --).

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For monday :

Support @ 2.53 (green --), 2.47 (low red, green ...), 2.45 (low blue), 2.40 (blue --), 2.26 (blue ...)
Resistance @ 2.60 (mid blue, red --, mid red), 2.64 (red ...), 2.77 (upp blue, pink --), 2.85 (upp red)

Hope you find my analysis helpful. Thank you for your support !!
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