STI Update / IndoAgri
In the Point and Figure chart, a new column of "O" was created today. Another 10 points loss will generate the first sell signal. It is not my intention to foreshadow the direction of the market because it may move either way. But should the three sell signals are triggered, the vertical count target will be imminent.
Amidst the concern I have on the index, IndoAgri appears to have found its support. The counter closed with a doji sitting at the support of two trendlines. Stochastic is in oversold while %K is titling up. Unless affected by the broad market performance, if we look at this counter in isolation, it should stag a rebound.
The gold color trendline shows that IndoaAgri has fully discounted the effect of trendline violation.
The gold color trendline shows that IndoaAgri has fully discounted the effect of trendline violation.
Labels: Market Direction, Stock Pick
posted by Market Wizards @ January 25, 2011
Comments: 0
