Golden Agriculture (GAR) is currently trading in a Symmetrical Triangle. It also can be seen that GAR is trading between the 50D MA and 200D MA for the past two months. The trading range ($0.64 to $0.68) will be small until there is a breakout. Currently there is no trend for GAR as the stock is trading in whipsaw pattern.
Golden Agriculture is testing the 200D MA support for the 6th times. If this 200D MA support is broken, Golden Agri may reverse the uptrend to down trend. MACD is also going to show a bearish signal. Next immediate support is $0.57 which is the 61.8% Fibonacci Support Level.
Golden Agri has reached the target price base on the last analysis. However, it is important to watch closely whether there is any reversal candlestick pattern for the rebound from this 200D MA support. If Golden Agriculture cannot hold above this support level, GAR will continue the down trend. Next support is $0.547 which is the 38.2% Fibonacci Support.
