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.

Tuesday, October 7, 2008

Indofood Agri 071008

The rebound for Indofood Agri was short-lived as it has now not only slipped below the uptrend support (low blue), Indofood Agri has also broken the 0.685 support (green --).

Indofood Agri also opened slightly below the long term downtrend support (low red), tested the 0.685 neckline (green --), before closing right on the downtrend support again.

We could see Indofood Agri trading between the 0.685 neckline and long term downtrend support (low red). The danger of Indofood Agri slipping below the long term downtrend support (low red) has also increased.

If that support breaks, we could see Indofood Agri hitting the 0.500 level.

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For tomorrow :

Support @ 0.618 (low red), 0.550 (mid pink), 0.433 (low pink)
Resistance @ 0.685 (green --), 0.705 (low blue, upp pink), 0.770 (green ...), 0.800(blue --)
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