GoldenAgri - My Stocks Investing

Golden Agri: Start New Up Trend

Post author:Marubozu
Post published:July 25, 2010

Golden Agri broke $0.54 78.6% Fibonacci Retracement resistance recently and looked like starting a new up trend. A lower high, higher high up trend pattern has form. $0.54 should serve as a good support level and can be considered a good entry point to trade.

GoldenAgri – Price Volume Divergence

Post author:Marubozu
Post published:June 20, 2010

Current GoldenAgri chart suggests that a deeper correction may take place if the 200D MA support is broken.

A few bearish indicators shown in the chart:

Price Volume Divergence. Although the stock price is rising but the volume is dropping, indicates the uptrend is not sustainable.
Golden Agri is facing 50D MA resistance after the recent run up in the stock price. This 50D MA resistance is also a 78.6% Fibonacci Retracement Level. RSI & Stochastic are turning down to support a probable bounce down scenario.
Golden Agri up trend support has been broken.

If the 200D MA support is broken, the next important support is at $0.458 (61.8% Fibonacci Retracement Level).

Golden Agri – Starting a Deeper Correction

Post author:Marubozu
Post published:May 22, 2010

Follow up from previous post.
http://mystocksinvesting.blogspot.com/2010/05/golden-agri-breaks-up-trend-support.html

Golden Agri is unable to move back and went above the up trend support. It is also confirmed that the previous support has turned into resistance. In addition, 200D MA support is also broken. The chart looks bearish and probably starts a deeper correction if there is no rebound from this 200D MA support.