Moses’s Singapore stock analysis. Trade What You See. Bullish Flag Chart Pattern.
Trade what you see and not what you think. In my last Singapore stock analysis Golden Agri Resources stock, E5H on January 10, 2012. The price action was still trying hard to retest the price at $0.740 and $0.750. $0.740 and $745 were last tested in August 2011, but fail. It was also tested earlier at eleven months ago and fail.
From the chart, you can see there were accumulation happened since beginning of January 2012 for nearly a month. Finally the price action has broken up the resistance.
This week the price action has gap up and breaks up. The price hit the high at $0.79. As speculated earlier the next major level after $0.74 and $0.75 to challenge will be $0.83. If you miss my last posting for Golden Agri, you can read my previous posting title Inverted Head and Shoulder Pattern.
Zoom Out for a Bigger Picture
When you zoom out and look at the 27 months daily chart, you may notice there seems to have a much bigger bullish flag chart pattern to be completed.
To-date, we have completed two bullish chart patterns; one bullish flag chart pattern and one bullish pennant chart pattern.
See my earlier posting for the previous analysis. Have fun!
It seems like I know them all. No. I am not here in bragging rights. I just enjoy looking at the chart and wondering what will happen next. Trading strategies are fun, it is even more fun in understanding what others see the market or how a technical analysis trader see the market.
Golden Agri Resources, E5H Daily Chart February 10, 2012
Golden Agri Resource E5H Daily Chart February 10, 2012
Golden Agri Resources, E5H Daily Chart February 3, 2012
Golden Agri Resources, E5H Daily Chart February 3, 2012
Golden Agri Resources, E5H 27 Months Daily Chart
Golden Agri Resource E5H 27 Months Daily Chart
Have fun! Thanks for stopping by.
Moses, February 11, 2012
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DSICLAIMER
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