Indofood Agri: CIMB has Technical Sell Call. Note that stock has been trending lower since hitting a high of $2.99 in Dec10. The failure to rebound (capped by its 30-day SMA) should be viewed as a sign of weakness. Think that prices are more likely to consolidate at a lower level first before the rebound takes place.
Recommend that stock is a sell now with $1.51 low the TP in the near term. There is a good chance that it could fall further to test its channel support at $1.35-1.38 next. Only a breakout above $1.72, its 50-day SMA would see a reverse in Calls.
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