Shares & Derivatives
Golden Agriculture: Accumulate on weakness.
By A Singaporean Stockmarket Investor (ASSI)  •  May 31, 2011
I plan to accumulate Golden Agriculture on weakness. This would mean at 67.5c support as provided by the trendline support connecting the lows of 6 and 25 May 2011. I would not, however, throw in the kitchen sink. This is because if 67.5c should break and if price were to close lower, we could see price going to 65c and the long term uptrend would still be intact. Buy more at 65c is what I would do if that should happen. The ADX suggests a lack of trend for Golden Agriculture's share price. In such a situation, I look to the Stochastics for clues. With it closer to the overbought region and forming a lower high although price touched a higher high at 71.5c, the chance of a further decline in price is high.
However, the decline in price in the last two sessions were on the ......
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By A Singaporean Stockmarket Investor (ASSI)
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