Shares & Derivatives
Stock Chart: Golden Agri, Midas!
By Dou  •  June 18, 2011

On Friday, Golden Agri re-tested the support at $0.665 and closed at $0.685 with HIGH volume of 90.29 million shares traded.

Separating lines occurred. If the lines occur during an uptrend and the first line is black and the second is white then this suggests that the uptrend should continue.

Both RSI & MACD are bullish as MACD lines about to perform a “golden cross”.

Important Resistance of Golden Agri: $0.685

Immediate Support of Golden Agri: $0.665

Currently prices are resisted by 20/50/100/200 days MA at $0.685

Till now Golden Agri did not break the uptrend as prices continue to form a higher low despite STI corrected recently.

The support at $0.65 remains strong and critical. As long as this support does not break, more upside can be expected.

If interested, buy at support of $0.65 could be a good entry price.

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By Dou
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