GoldenAgri cracking

Evening all,

I have a chart of Golden Agri – E5H.SI – for today.

For more than two years, Golden Agri traded in a range of 60 cents and 78 cents. The last time I had eyes on Golden Agri, it was hovering above the bottom of this range, and other technical events prompted me to look for a rebound. Fast forward to today, and Golden Agri is trading in the 56 cents region.

Strictly-speaking, Golden Agri has traded out of the range towards the downside. This is a clear-cut bearish signal. The major low is pegged at 55 cents, which was where E5H.SI traded at back in the horrid third-quarter of 2011. It is very clear to all in the trading community that this high-volume stock is tanking. For trading set-ups, I am looking at a longer time frame, and more of a trend trade; so there will be patience in entry for a short.

e5h

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: