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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IndoAgri: Has the Knife hit the Floor?

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Follow up on last IndoAgri stock analysis and IndoAgri seems that finding a support at this $1.665 level.

Things to watch out to confirm whether IndoAgri has found the bottom:

  • Whether IndoAgri can stay above this $1.665 support in the coming few weeks.
  • Whether IndoAgri can break above the 20D MA resistance at about $1.80. $1.80 was the previous tough resistance during August to Dec 2009.

Current level is still not a right level to long the stock yet.

Continue ReadingIndoAgri: Has the Knife hit the Floor?