GoldenAgri: Testing 50D MA Support

GoldenAgri is retracing to test the support after breaking out from the Symmetrical Triangle. If this 50D MA support proved to be reliable, GAR has high chance to meet the breakout price target of $0.825.

Another thing to note: GAR is forming a “Higher High, Higher Low” Uptrend chart pattern.

See previous post on GoldenAgriculture: Breaking out from Symmetrical Triangle.

This Post Has 7 Comments

  1. Desy

    Bro, does this looks like head – shoulder .. ?

  2. Marubozu

    Desy, Not yet but it can be a Head and Shoulder. The right shoulder is still not formed yet.

  3. Desy

    After today’s closing.. Formed?

  4. Marubozu

    Desy, which one is your head?
    The right shoulder is not there yet from what I see.

  5. Marubozu

    GAR rebounded nicely from the 200D MA support!

  6. Mr. Y

    will the ex-div effect the chart pattern movement?

  7. Marubozu

    Price is expected to drop a little bit but the impact is not big due to very low dividend yield.

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