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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.

Wednesday, February 25, 2009

Indofood Agri 250209

Ever since breaking the 0.525 support (red --) on 20 feb, Indofood Agri has now tested the 0.505 support (pink ...) twice, barely trading within the uptrend support (low green).

As I've mentioned on 20 feb, the 0.505 support looks good for the time being. However, I do not know how long this support will hold. We could see some action soon, as the uptrend support catches up with the 0.505 support.

If the 0.505 support breaks, we could see Indofood Agri test the 0.495 support (green ...) first, then 0.485, which is the low on 23/24 dec, before Indofood Agri broke out and went on a surging run to 0.670.

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For tomorrow :

Support @ 0.505 (low green, pink ...), 0.495 (green ...) , 0.485 (mid red), 0.470 (lightblue --), 0.460 (blue ...)
Resistance @ 0.525 (mid green, red --), 0.535, 0.545 (pink --), 0.550 (upp green), 0.560 (upp red), 0.565 (green --)
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