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, October 12, 2008

Indofood Agri 101008

After our discussion on 7 oct, Indofood Agri continues to trade within the downtrend channel (pink). More importantly, Indofood Agri has now broken the long term downtrend resistance (upp red). Also discussed, Indofood Agri hitting 0.500 looks more and more certain.

The 0.500 level is also where the downtrend resistance (upp pink) meets the long term downtrend support (low red). If Indofood Agri manages to stay above this support (low red), we may see some rebound when it hits the 0.500 level.

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For monday :

Support @ 0.513 (low red), 0.460 (mid pink), 0.350 (low pink)
Resistance @ 0.610 (upp red), 0.620 (upp pink), 0.685 (green --)
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