GoldenAgri is retracing to test the support after breaking out from the Symmetrical Triangle. If this 50D MA support proved to be reliable, GAR has high chance to meet the breakout price target of $0.825.
Another thing to note: GAR is forming a “Higher High, Higher Low” Uptrend chart pattern.
See previous post on GoldenAgriculture: Breaking out from Symmetrical Triangle.
First Resources has completed a Full Elliott Wave (1-2-3-4-5-A-B-C), is the stock going to start another new Elliott Wave? So far 200D MA has proved to be a very reliable support.
Base on the chart, First Resources has started an uptrend where the stock price is currently trading above 20D, 50D and 200D MA. Immediate support at $1.338 which is the 61.8% Fibonacci Retracement Support and also the 50D MA support.
Base on current SPH chart, it is clear that the bull is missing. It is observed that there is a resistance (green line) sloping downward and also a support turned resistance at about $3.95. SPH current stock price is trading very closely to the 20D/50D/200D MA, it is a danger if SPH drops below these 3 MA. I can’t say SPH will start the down trend or move sideway but one thing is clear that the upside potential is limited if any investor wants to long the stock for huge capital gain.
