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.
- Post author:Marubozu
- Post published:September 6, 2010
- Post category:GoldenAgri
- Post comments:2 Comments