Golden Agriculture

The 20dMA and 50dMA are both flattening. Might this be the start of some sideways trading? MFI is in oversold territory and the MACD\'s buy signal from last Thursday has not been nullified. 20dMA provides resistance at 56c while 50dMA provides near term support at 51.5c. 100dMA which has also flattened is at 48c.

Today, crude palm oil (CPO) closed at RM2,498, up RM46 or 1.88%. Crude oil is again above US$77 and this is good news for CPO. Golden Agriculture\'s price action recaptured the 50dMA at 52c, closing at 52.5c. That the 50dMA is resistance turned support needs confirmation tomorrow. MFI is still at 20% which means that any move up in price has lots of room before the counter becomes overbought. Initial resistance is provided by the 20dMA at 56c which is also a 38.2% Fibo resistance. singaporeanstocksinvestor.blogspot.com/2...0dma-recaptured.html

Sometime in Jan 2010, i read somewhere a report that the management governance has issues with the farmers or farmlands.... The stock price has been STUCK low since the governance rumours////:ohmy:

Today, 52c has become resistance again. This needs confirmation next week. Since I talked about volume yesterday, what about today\'s volume? It\'s only a tad more than yesterday\'s. So, the sell down is unconvincing either. This is beginning to look like a narrow rangebound trading pattern with neither bulls nor bears gaining the upper hand. The crucial support level at 50c was retested today and held firm. singaporeanstocksinvestor.blogspot.com/2...doing-flip-flop.html

Look to the MACD (blue line) for signs. Once it closes in on the signal line (red line), that is a sign of a possible reversal. Of course, to be safe, wait for confirmation as the MACD crosses above the signal line. singaporeanstocksinvestor.blogspot.com/2...-and-large-caps.html

Golden Agriculture is beginning to look more promising. After forming a nice white candle yesterday which almost engulfed the preceding session\'s price action, it formed a short black candle today. In charting terms, this is a thrusting pattern in which the price action moved in the opposite direction of the preceding up day but did not manage to go beyond the midpoint of the preceding white candle. singaporeanstocksinvestor.blogspot.com/2...eversal-at-hand.html