Indofood Agri: CIMB has Technical Buy Call. Note that prices fell below the $2.20 low to current levels and is now just points away from the $2.03 support. It is possible that it could fall a tad further towards the said support, but however think that the downside from here is likely capped, at least in the short term….
House have been bearish on stock since 6th Jan , but reckon that it is time to go the other way, at least in the short term as house see a completed 5-waves decline. Recomemnd that this short term bullish trade is only for the more aggressive traders, and aggressive traders should long now with a stop placed below $2.00. However, anything within the range of $2.06-2.13 is a good level to get in with a similar stop loss point. Rebound could potentially see prices kick up towards $2.41 and $2.46
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