Golden Agri looking ripe once again

Good evening all,

I have a quick post for tonight.

This is Golden Agri, E5H.SI. Ever since the middle of the year, Golden Agri has been sliding down from a high of around 78 cents to 60 cents. The recent test at 60 cents is a region where strong support can be found. All of us can identify where the strong resistance and support levels are on Golden Agri’s chart because of the generally¬†sideways market in the last few years. Technically, Golden Agri looks cheap since it is hugging onto strong support for now. Indicators are giving out bullish convergence signals that support the case for upside (in red arrows). I am looking at either a mid-term trend-change set-up or a quick rebound from relatively low levels. There is always a chance that support is broken, and Golden Agri will trade much lower. Therefore, it is vital to have good money management skills to couple with analysis. Also, always take what we see presently.

All analyses, recommendations, discussions and other information herein are published for general information. Readers should not rely solely on the information published on this blog and should seek independent financial advice prior to making any investment decision. The publisher accepts no liability for any loss whatsoever arising from any use of the information published herein.

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: