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
+ 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)
Bearish
(Sell on Rebounds)
Donovan Norfolk Ang
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