GoldenAgri: Rebounding?

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Golden Agri may be rebounding in the coming days after a Doji candlestick was observed after the recent down trend. A Doji candlestick indicates a stop of the trend. Last Friday GoldenAgri formed a Bullish Engulfing candlestick pattern indicates a potential trend reversal.

RSI is at oversold region and start to turn up. MACD is showing some sign of bullishness also.

However, it is very important to observe whether the 200D MA will become the resistance when the rebound takes place.  Otherwise it will start a down trend for Golden Agri.

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GoldenAgri: Testing 50D MA Support

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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.

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Golden Agriculture: Breakout!

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GoldenAgri (GAR) breaks out from a Symmetrical Triangle. Price target of this breakout is $0.825 which is also the previous resistance.  The following are some bullish signals to support the future up trend of GAR:

  • GAR moves above 20D, 50D and 200D MA. 20D MA is going to cross above 50D MA soon.
  • MACD Bullish Convergence.
  • GAR did not reverse the trend when a Bearish Engulfing Candlestick pattern was observed. This is a pattern failure.

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