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, August 31, 2008

Indofood Agri 020908

Indofood Agri's fate has taken a turn for the worse and has now broken the uptrend support (low blue) today, so we could be looking at 0.900 as being the next support (23 aug 07 low).

After hitting the 1.27 resistance on 22 aug, Indofood Agri softened, breaking the uptrend support (mid blue) and testing the 1st downtrend support (mid pink) on 26 aug.

Indofood Agri is still currently trading within the downtrend channel (pink). It is also trading below the long term downtrend support (low red).

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For tomorrow :

Support @ 1.00, 0.905 (low pink), 0.900 (23 aug 07 low)
Resistance @ 1.05 (low blue, upp pink), 1.16 (mid blue), 1.22 (upp pblue)
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