Indorama Ventures (IVL) Pullback to 35-36 expected

IVL has key support at  35 to 36. Currently at 40.75 – right on its 10 and 15 day SMA’s, we expect it to fall to support noted above within a few days. A rebound and solid daily close above 44.50 is needed to cancel this VST bearish forecast. If however 35 fails to hold, IVL should retrace to 31.50-32.50.

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: