Indofood Agri 220409

Did you follow my analysis for Indofood Agri on 9 apr? If you had, you would probably have caught Indofood Agri as it surged past the 0.770 resistance (pink ...), and tested the 0.860 resistance (green ...) on 15/16 apr.

Indofood Agri today again broke the 0.860 neckline (green ...) with volume, testing the 0.895 resistance (blue --) briefly before settling right on the 0.860 neckline again.

We could see Indofood Agri trade sideways again, as it did on the previous 3 occassions before surging up. If Indofood Agri can continue to trade within the uptrend channel (blue), we could see it test the 0.895 resistance (blue --), provided Indofood Agri also stays above the 0.860 support (green ...).

As you can see from the chart, the 0.875 could be the immediate resistance for Indofood Agri as it is where the long term downtrend resistance (upp red) meets the uptrend support (mid blue).


For tomorrow :

Support @ 0.860 (green ...), 0.835 (mid green), 0.830 (mid blue, low red), 0.815 (red ...), 0.795 (green --), 0.770 (pink --)

Resistance @ 0.875, 0.895 (blue --), 0.900 (upp red, upp green), 0.915 (upp blue), 0.925