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.

Saturday, July 19, 2008

Indofood Agri 180708

Indofood Agri has managed to lose 1.02 since its peak of 2.87 on 27 jun, that's more than 35% within a period of less than a month! As you can see from the chart, Indofood Agri has since broken many supports on its steep plunge down.

We could see Indofood Agri testing the 1.81 support (red --) next week, and trading sideways between the 1.81 support and 1.92 resistance (pink --).

If Indofood Agri breaks the 1.81 support, we could see it revisiting the 1.70 low which it hit on 22 jan.

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For tomorrow :

Support @ 1.83 (low red), 1.81 (red --), 1.74, 1.70 (22 jan low)
Resistance @ 1.92 (pink --), 2.01 (mid red), 2.04 (green ...), 2.08 (low blue), 2.13 (red ...)
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