Golden Agri: Trading in a Wedge

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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.

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2 thoughts on “Golden Agri: Trading in a Wedge”

  1. Hi, I’m a reader of your blog. Just wondering, do your think Golden agriculture will be affected by their loss of land in Papau and greenpeace’s protests on their expansion into libya?

    SL

  2. SL,
    It may or may not affect the fundamental and the earnings, if this is just an one time event.

    However I am trading GoldenAgri but not investing in it.
    GAR is not a value stock for me.

    Marubozu

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