My Stocks Investing Journey

IndoAgri: What is the Next Move?

IndoAgri has been in consolidation mode after finding the bottom in early Oct. Base on currenty chart pattern, it looks like IndoAgri is going to continue the down trend if the stock cannot break above the Down Trend resistance, 20D & 50D MA at about $1.30. Immediate support is $1.13 followed by $0.70 (123.6% FR). Weekly chart is also showing a similar pattern after Bearish Harami candlestick pattern formed at the end of Oct.

The analysis is originally from My Stocks Investing Journey.

IndoAgri: Testing Down Trend Channel Resistance

IndoAgriculture is currently testing Down Trend Channel Resistance.

Things to watch:

1. Whether IndoAgri can break out from this down trend channel pattern
2. Whether IndoAgri to bounce down and form a lower low than $1.13

Current IndoAgri chart pattern is still very bearish where all the 3 MA (20D, 50D and 200D) are stil heading down sharply.

IndoAgri: Trading in a Down Trend Channel

Indo is currently trading in a Down Trend Channel and rebound down from the channel resistance. Base on the chart, IndoAgri probably heads towards $1.00 the next support.