Thursday, September 11, 2008

IOI Corp

IOI Corp has been affected by the fall in palm oil prices. The price is now near the lower Bollinger Band.

The –DI is slightly above the +DI with the ADX decreasing from a high level indicating that the down trend is slowing down.

MACD line is about to cut the MACD Signal line which bearish if the cutover occurs. However, if the stock price is able to rebound from current levels, there is likelihood that we will see divergence in MACD as well as RSI. Divergence usually indicates a reversal in trend.

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