Lippo Maple Tree Indo Retail Trust
This evening I opened the land profile and chose to look at Lippo Maple Tree Indo Retail Trust (again it is a long name).
The reason I put this analysis up is because this counter show a different indication of a reversal.
This chart is relatively young beginning 2007, the poor chap was listed in the midst of a down trend and it took this counter years and even now has not yet reaching the price at first day of trade.
I have joined 2 bottoms to form the support trendline and what do you know?! There was already a false break in 2012. This shows 2 things:
1) The trend is weak and indication of potential reversal;
2) The trend line is prudent, if this line is broken, this will be a strong support turn resistance;
This trendline is confirmed broken recently on the week of 23rd of August 2013. It was tested since last week and for both week, the counter was stopped by the trendline.
The question is: What reversal pattern is there to prove the case? The arguement is weak, which is a reversal triangle.To date the formation is not yet complete as far as I am concern.
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