IndoAgri: Testing Down Trend Channel Resistance

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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.

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Olam: Drop below 20MA again!

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It is just a flash in the recent Olam’s rebound. After failing to test the wedge resistance at about $2.515 (also the 61.8% Fibonacci Resistance). Olam drops below 20D and 50D MA again. Need to watch whether Olam can still stay within this wedge when the stock price test the wedge resistance at about $2.20. If Olam breaks down from this wedge, the price target is $1.70.

 

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