Indofood Agri 020109

After dipping to a low of 0.485 before christmas, Indofood Agri recovered its losses and managed to break the 0.525 resistance (red --) on 30 dec. Indofood Agri opened the new year by breaking the 0.545 resistance (pink --) and almost testing the 0.575 resistance (red ...). However, volume hasn't exactly been alot - 17.6m done on 2 jan.

If Indofood Agri fails to break the 0.575 resistance (red ...), we could see it forming a double-top, and the retracement could be back to the 0.490 support (pink ...).

However, if Indofood Agri manages to hold above the 0.545 neckline (pink --), any break in the 0.575 resistance could see Indofood Agri testing the 0.610 resistance (green ...).


For monday :

Support @ 0.560 (mid blue), 0.555 (pink), 0.545 (pink --), 0.525 (red --), 0.515 (low blue), 0.505 (blue ...)
Resistance @ 0.565 (upp red), 0.575 (red ...), 0.590 (upp blue), 0.595 (blue --), 0.610 (green ...)