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?

COSCO: Can this Neckline Support Hold?

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COSCO has failed to break the 200D MA resistance and bounced down to test the neckline of the Double Tops chart pattern now. COSCO may rebound from this neckline support to test 20D MA resistance.

Things to watch:

  • Whether COSCO can break above this 20D MA resistance.
  • Whether COSCO can break this neckline which is also the significant 61.8% Fibonacci Support.

Breaking the neckline confirms the Double Tops Formation and the break down price target is $1.32.

Also see previous analysis on COSCO here.

Continue ReadingCOSCO: Can this Neckline Support Hold?

Straits Times Index (STI): A Big Correction Ahead?

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Straits Times Index (STI) has been trading within a Symmetrical Triangle for 3 months but broken down with a long bearish candle last trading day. This breakdown of a Symmetrical Triangle may send STI index down to 3,000 level which is also a psychological support level.

Also take note that the current STI is trading below all 4 Moving Averages (20D, 50D, 100D and 200D), 20D MA is crossing down 200D MA, MACD in Bearish Convergence region…. other technical indicators are also showing the bearish momentum of STI index.

I am bearish on STI in the coming weeks. Any BULL out there to share your view?

 

Continue ReadingStraits Times Index (STI): A Big Correction Ahead?