Indofood Agri 090409

After breaking the 0.715 support (lightblue --) yesterday, Indofood Agri reversed and even broke the 0.740 resistance (pink --) with volume today. Most trades (146) were done at 0.760 (7,022 lots) with 2nd most trades (137) done at 0.745 (6,191 lots). Overall, there were more buy ups (21,409 lots) than sell downs (15,532 lots).

What this means is that we could be looking at 0.745 being the support and 0.760 being the resistance for Indofood Agri the time being.

If Indofood Agri can maintain trading within the uptrend channels (blue, green) and stay above the 0.740 support (pink --), there's a good chance we might see it test the 0.770 resistance (pink ...) again towards the end of the week when the uptrend support (mid blue) meets the 0.770 neckline (pink ...).

However, if the 0.740 support breaks, we could see Indofood Agri retreat back to the 0.715 support (lightblue --).


For monday :

Support @ 0.740 (pink --), 0.732 (mid green), 0.725 (mid blue), 0.715 (mid red, lightblue --), 0.685 (low red, red --)

Resistance @ 0.755 (upp blue), 0.770 (upp red, pink ...), 0.785 (upp green), 0.790 (green --), 0.815 (red ...)