Golden Agri breakout from a Rising Wedge with huge volume and the price target of this breakout is $0.73 as per previous analysis. $0.615 is a good entry level if Golden Agri pulls back to $0.615 and this resistance turned support is reliable.
Golden Agri is currently trading within a wedge pattern with the wedge resistance at about $0.61. Breakout from this wedge will send Golden Agri to $0.73. It looks like there is a good chance of a mini bull run as MACD is entering into bullish convergence, RSI and stochastic are heading north, and stock price is above 20D/50D/200D MA and Parabolic SAR. Only Bollinger Band has not met the bullish criteria yet.
Golden Agriculture is currently trading within an Up Trend Channel. As long as the channel support is not broken, a good entry is near the channel support which is at about $0.57. The 50D MA should provide a good support at about $0.55. Near term resistance is $0.615.
For short term safe trade: entry point at $0.57, exit point at $0.615. 8% Profit target.
Cut loss if GoldenAgri breaks the 50D MA support.
Disclaimer: I am NOT a certified stock analysis. The analysis posted is for my own use only and for information sharing. Use the inforamtion at you own risk.