IndoAgri (on 30 Oct) and SATs (4 Nov)will be announcing results soon. Analysts have given target prices of 2.20(27% upside) and 3.24 (28% upside) respectively, in view of the improving economic outlook. This is still an uptrend, and hence the only way to play the market is to long.
Since IndoAgri requires less capital, this is what I can do:
Currently, it is not exactly in a good buying position as
1. Stochastics is just coming down from overbought
2. It is in the middle of the channel
3. Candles just displayed bearish engulfing
But, more importantly, it has remained in a firm uptrend
1. Fundamentals supporting further price rise
2. Prices moved above MAs
3. The anticipation of good results on 30 Oct
Therefore, the plan:
1. Divide purchase into 2 parts.
2. 1st part: Buy immediately
3. 2nd part: Buy on correction
4. SL 1.45
5. TP1: 2.05
6. TP2: 2.65
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