IndoAgri (technical)

IndoAgri: shows prospect as a technical rebound play. The key RSI and Stochastics indicators, while oversold , have started to hook up, suggesting a positive reversal could be in place. There is strong support around the $1.14 level, defined by the three occasions when the level was tested and held. These bottoms took place in Aug '11 , Oct '11 and Jun '12. A stop loss can be placed just below $1.14 to enjoy a low risk exposure set up. Risk reward ratio is favorable, given possible upside to $1.25 first , followed by $1.32 (200 day MA).