Tuesday, January 11, 2011

LPKR Near Support Trendline

I've been trying to experience the Indonesian stock market movement and this was the first stock ever that I bought. Got it at Rp500 the first time (December '10) for just 4 lot and added 9 lot more until now, with average price around Rp640. The uptrend was held at 750 and retrace back to 650 at the moment, which is near the support trendline. The breaking of this trendline and 620 area suggest a double top reversal and could bring the stock back to Rp500 level. In the opposite perspective, it is also a good time to buy, hoping it will break Rp750 resistance.