Indorama Ventures (IVL) Pullback to 35-36 expected
February 9, 2011 Leave a comment
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.