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Wednesday, 11 June 2014

Bumitama Agri: 11 June 2014, Wednesday, 2.17pm Singapore Time

Bumitama Agri: 11 June 2014, Wednesday, 2.17pm Singapore Time
Chart courtesy of Chartnexus.com

Attached above is the chart of Bumitama Agri, a palm oil commodity stock based in Indonesia.

+ Previous breakup with volume as shown.
+ Breakup point was reliable as shown: breaking up multiple tails' resistance and with volume
+ Pump and Dump volume takes over as shown.
+ No more buying interest at the peak as shown.
+ Ambushed selling volume takes over as shown.
+ Majority of market is caught by surprise.
+ Double green layer of support in the chart above will break down.

+ Target:
1. Breakdown of double green support
2. Sell down to below $1.00


Donovan Norfolk Technical Rating:
Bearish
(Sell on Rebounds)


Donovan Norfolk Ang

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