Golden Agri – Breaks Up Trend Support

Golden Agri has broken the up trend support level recently. The key question now is whether Golden Agri can move back up and stay above the up trend support line like what the stock did back in July 2009. If GoldenAgri cannot break this uptrend support turned resistance line, the stock will probably start a deeper correction.  The next two immediate supports are $0.50 (200D MA support) and $0.456 (61.8% Fibonacci Retracement Level).

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