Indofood Agri Resources Limited, 5JS
Indofood Agri Resources Limited refines, brands and markets cooking oil, margarine, shortening and other palm oil products. With its subsidiaries, the company is an integrated agribusiness and is involved in research and development, oil palm seed breeding, oil palm cultivation and milling.
A year ago, December 8, 2010 the high of the price was $2.99, 52 weeks later, today the high was at $1.34. The price dropped more than 50% to $1.65,. Will the price move even lower? Let’s analyse and monitor the stock.
Stock Analysis
From the chart, the price at $1.26 is a critical support; if it could not support the price at this level and it will even fall further. The next level will be 1.13 zone.
On the other hand when the price get supported and move up, it needs a lot of energy to cross up of $1.48, as it will be a strong resistance.
MACD continues to show weakness in strength when price keeps falling lower. This year August and October, the price had retested the support at 1.13 – 1.15 region. The price has since than travel north. The price today is still below 100 days EMA, but in between 20 days and 50 days EMA. The price may fall when there is not enough demand.
Short Term
Short term the price may fall lower to retest the support of $1.26 when the demand is diminishing.
Indofood Agri, 5JS Daily Chart Plotted by AmiBroker Charting Software
Disclaimer
The above result is for education purpose. It is not meant to be used for buy or sell decision. We do not recommend any particular stocks. If particular stock of such is mentioned, they are meant as demonstration of Amibroker as a powerful charting software, Technical Analysis such as MACD, Support and Resistance, and Moving Averages.
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