IndoAgri is forming a double tops since breaking down from the up trend support. Neckline is at about $1.95. Breaking down the neckline with heavy selling volume will confirm the double tops formation with price target of $1.35.
Showing posts with label Double Tops. Show all posts
Showing posts with label Double Tops. Show all posts
Friday, May 21, 2010
Noble Group - Double Tops!
Noble Group has formed a Double Tops and the neckline has broken. The price target of this double top formation is $1.27 which is also a 50% Fibonacci Retracement Level. The breakdown of the neckline is also confirmed by increase in the selling trading volume.
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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