GoldenAgri: Waiting for the Breakout

GoldenAgri has formed a consolidating Symmetrical Triangle for a few months. The stock will probably be breaking out pretty soon. At this moment, there is no clear direction where GoldenAgri is heading because the stock price is trading close to 20D, 50D, 100D and 200D MA. 

Expect very volatile price movement when breaking out as many traders are able to spot this symmetrical triangle chart pattern to short or long the stock.

  • Breakout (up) price target = $0.825
  • Breakout (down) price target = $0.50


This Post Has 3 Comments

  1. Marubozu

    Golden Agri breakout with huge volumn!

  2. futures-explained

    Nice triangle set-up

    Buy @ 0.683 Stop-loss 0.65 Profit target 0.84 🙂

  3. Marubozu

    I have more or less the similar setup as you but my exit target is $0.75. GAR will probably pull back at about $0.75.

    Will enter again when the pull back is complete. 🙂

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