F&N: Upside Limited

  • Post author:

Base on the chart, F&N uptrend is still intact however upside is limited due to the following two reasons:

  1. Resistance at about $5.80
  2. Current PE of 21.5 is higher than the past 3 years average PE of 20.8 and also the STI PE.

It will be interesting to see whether F&N can hold above the up trend support at about $5.30 to $5.40.

Continue ReadingF&N: Upside Limited

China Fishery: Elliott Wave C now?

  • Post author:

China Fishery looks like starting an Elliott Wave C. If the Elliott Wave count is correct, very likely China Fishery will break this uptrend support line and may go down to $1.60 which is the 618% Fibonacci Retracement Level.

$1.90 is the critical support to watch as it is a 78.6% Fibonacci Retracement level + 50D MA support + Up Trend Support.

Continue ReadingChina Fishery: Elliott Wave C now?

IndoAgri: Forming a New Up Trend

  • Post author:

IndoAgri is showing the similar pattern as Wilmar where a formation of higher high and higher low pattern is seen. There is a potential reversal at the current price to form a higher high pattern where IndoAgri is going to test the previous support turned resistance line (blue line). A good entry point is when IndoAgri pulls back to the uptrend support line (green line) at about $2.20.

Continue ReadingIndoAgri: Forming a New Up Trend