IndoAgri (technical)

IndoAgri: OCBC Technicals says a key support breached; sees further correction after the stock failed a retest of its downtrend resistance recently; this was followed by a strong bearish break below the $1.35 key support on heavy volume mid wk. Notes MACD is still trending lower , suggesting that the downside momentum could continue. Tips test of next key support at $1.15 (key trough) in the weeks ahead. Sees immediate resistance at $1.35 (support-turned-resistance).