Indo Agri’s down trend is confirmed after showing a “Lower High, Lower Low” chart pattern. In addition, Indo Agriculture is trading below 20D, 50D and 200D MA. 20D MA has also crossed down 200D MA which is a bearish trend. Next support is $2.14.
An Evening Star Candlestick pattern was observed at the 50% Fibonacci Resistance a few days ago. As expected, Olam reversed to down trend after the rebound. Current support is $2.645 followed by $2.471.
Note: Olam is currently trading below 20D, 50D and 200D MA. The 20D MA has also crossed down 200D MA which is a bearish chart pattern.
UOB Bank is finding a Good Support at about $18.10. This is the 78.6% FR support and proven to be reliable for the past 4 occasions. Immediate resistance is at about $18.90 which is also the 50D MA and 200D MA resistance. If UOB is able to clear this resistance, this bank share has the chance to move up to $20.00, a tough and psychological resistance.
