Indofood Agri 311008

Indofood Agri opened and broke the downtrend resistance (upp pink) and long term downtrend support (low red) with volume today. It also tested the 0.525 neckline (pink ...) before closing at 0.505 (16 oct opening price).

Can Indofood Agri maintain its uptrend momentum and break the 2nd long term downtrend resistance (upp red)?

If Indofood Agri maintains its trading above the 0.495 support (blue ...), we could see it test the 2nd long term downtrend resistance (mid red) next week.

However, if Indofood Agri breaks the 0.485 support, we could see it trading sideways between 0.485 support and 0.425 support (pink ---).



For monday:

Support @ 0.505 (upp blue), 0.485 (blue ...), 0.475 (mid blue), 0.425 (pink --), 0.420 (low blue, low red), 0.379 (upp pink)

Resistance @ 0.525 (pink ...), 0.555 (upp red), 0.600