World food market has been in the slump since topping up end Oct 2013.
the stock value has basically halved to around 30.2 as of 8th April 2016
Technically, price does obeys the downtrend channel as shown, but i also see a potential rounding bottom forming
if price found support and reverse around 29 and hit back to 34, the chance of rounding bottom increases.
But if price breaks down of 29, the next potential price could be channel bottom of 26-27 depends on how fast price falls
As of now, no buy signal yet
monthly remained bearish bias
in case you are interested in this stock once price drop to 29 or 26-27, you can comment and i shall check
thank you
the stock value has basically halved to around 30.2 as of 8th April 2016
Technically, price does obeys the downtrend channel as shown, but i also see a potential rounding bottom forming
if price found support and reverse around 29 and hit back to 34, the chance of rounding bottom increases.
But if price breaks down of 29, the next potential price could be channel bottom of 26-27 depends on how fast price falls
As of now, no buy signal yet
monthly remained bearish bias
in case you are interested in this stock once price drop to 29 or 26-27, you can comment and i shall check
thank you
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know your stop loss
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