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Indoagri, will it turn to uptrend?

Indoagr has been dropping for 1 over years and it dropped 58% at the low price on 21 August. However this price may hit a mid term or even long term bottom at this moment. There are a few reasons. First of all, it showed some strength recently, at the end of August when STI was still panic dropping, Indoagri already stand still and started making some small range consolidation, it indicates that seller may not be very strong already. Secondly, as US is planning to attack Syrian, the oil price was climbing and we can see that most of oil and commodity related stocks are turning strong. Finally, recent data shows that china economy is not as bad as it seems in the past a few month and the China’s mega economy may help to push up the oil and commodity sectors. Indoagri, as a commodity stock, may also benefit from this. In the past a few days, indoagri was consolidating. It may have a nice impulsive move after the consolidation. One may consider buy on breakout of the recent high and set stop loss below the recent price range.

Robin Han
Robin Han

Dr. Robin Han, a graduated from NUS with a Ph.D in Department of Chemical and Biomolecular Engineering, has been actively trading in Singapore stock market since 2007. His passion has let Dr. Robin to become a full time trader since 2010. He has extensively share his experience with his fellow investors on trading Singapore stock market using both technical analysis and fundamental analysis.

Dr. Robin is a regular guest speaker for radio 95.8 on financial program. He also has been invited by different companies and societies to conduct educational seminars on stock investments, including Shares Investment, Wealth Directions (Founder: Dennis Ng), Traders Round Table, SIM, Raffles Business International, Online trader’s club and Alpha Alliance. He is also contracted by N2N (a listed trading software provider in Malaysia) as their overseas educational speaker in stocks.