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Indofood Agri is one of the popular traded stock few years back. In trading either you buy or sell, as the price either travel north or travel south. The reason you buy or sell is because you see the chart pattern provide you the supporting information for buy or sell.
Let check the following information and trading strategies.
If you are trader, a experience trader you must be aware that does not matter how good the supporting information, the market still can change and turn their back against you. So, experience trader has always their own guideline to cut lost to keep the losses to minimum.
Indofood Agri Resources Ltd, 5JS – A Reversal Buy Strategy
Indofood Agri has completed a down flow, the price action test and retest the low. Price Action has similar matching H M Gartley reversal chart pattern, see the small diagram inserted for details.
June 12, 2015 Indofood Agri with Fibonacci
Indofood Agri Resources Ltd, 5JS – A Trend Continuation
Indofood Agri completed a down flow, and the price action go into slopping up ranging. This give a clue of a bearish flag chart pattern. So, the new pole has a potential of same length of the previous pole. However, when the ranging goes on too long, then the bearish flag chart pattern will become invalid.
If you will gaze further, you may see an ugly Head and Shoulders chart pattern, The right shoulder is still under way. If this Head and Shoulders come true, the Bearish flag chart pattern will probably true. Will see.
See the two and a half years data chart for details; picture worth a thousand words.
June 12, 2015 Indofood Agri
Conclusion
From the analysis above, there is two possibility. One is reversal strategy, the other is trend continuation.
You can read about other Singapore Stocks scan and past Indofood Agri analysis in this website.
Thanks for visiting the website.
Moses
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