On Tuesday, Golden Agri re-tests the support at $0.65 and closed at $0.665 with HIGH volume of 0.119 billion shares traded.
A white candle stick with long upper/lower shadow indicates investors began to take profit as they are unconvinced on this rally.
Both RSI & MACD are bullish as MACD perform a golden cross today.
Important Resistance of Golden Agri: $0.685
Immediate Support of Golden Agri: $0.65
Currently prices are resisted by 20 days MA but supported by 200 days MA at $0.65.
Today Golden Agri performs a bullish signal which is breaking the resistance at $0.65 with high volume.
The reason for the boost in confidence for investors is due to Golden Agri has rebound off the low of $0.635 and thus forming a “higher low”. This is a sign of reversal.
However we are very disappointed with the candle sticks …