Friday, May 7, 2010
IndoAgri - Break Critical Support
IndoAgri seems to have broken the uptrend support which is also the support for a Double Tops chart pattern, with a spike in trading volume. If IndoAgri cannot move back above the support level (about $2.25), the stock may go down to $1.713 which is a Double Tops breakout price target and also 61.8% Fibonacci Retracement Level.
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There was a Downside Gap Side-by-Side White Lines bearish continuation pattern just before the trendline got broken.
ReplyDeleteThanks RL. I learn another candlestick pattern..
ReplyDeleteSide-by-Side White Lines Bearish.
But the bearish continuation pattern is looking shaky today with that surge up, and it might not work out...
ReplyDelete