TRADERS CORNER: UOB KAY HIAN Indofood Agri Resources (IFAR SP, - TopicsExpress



          

TRADERS CORNER: UOB KAY HIAN Indofood Agri Resources (IFAR SP, 5JS) – Technical BUY with +15.4% potential return Resistance: S$1.15 Support: S$0.71 BUY with a target price of S$0.97 with tight stops placed below S$0.78. The stock is attempting to reverse its prior downtrend as share price has closed the falling gap on 20 Sep 13 and also closed above its rising 50- day EMA. Its 20-day EMA looks poised to form a golden cross. Its positive directional index has turned up and may rise correspondingly with its ADX. Watch to see if prices could first close above S$0.855. Our institutional research has a fundamental HOLD with a target price of S$0.90.
Posted on: Tue, 22 Oct 2013 05:06:45 +0000

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