Moses’s Singapore stock analysis.Golden Agri Resources Update – ED Channel? Bull Trap? Bear Trap?
You caught in bull trap earlier and now you caught in the bear trap. The price fall and moved south after tested $0.79. It re-bounced quickly from $0.69. Is the equal distance channel valid? Welcome to Moses’s Free Stock Corner Stock Analysis at AmiBrokerAcademy.com. You are here because you want to know why the stock moves or will it move in the near future.
The price action has re-bounced from the support $0.69, and try to break $0.75 in a short four days. Wow! It is a sharp re-bounced. This stock always has such as a great impulse move when it moves it moves fast and far (on the chart.)
The last time, it took nearly 20 days (January 9, 2012 to February 3, 2012) to test $0.74 level. The price has hovered at $0.74 and finally broken up.
Thereafter, the price was testing $079. It tested twice. It fails and the price retrace back lower.
If $0.69 is a good support and the ED, equal distance channel provide the strength to support it, can the price hits the other side of the channel? Will see.
If the ED channel valid, this will also mean the earlier analysis on bullish flag for longer term also valid!
See previous comment for more information. Check out Who Moved My Stock Price?
Golden Agri Resources Daily Chart, March 12, 2012
Bull Trap? Bear Trp? ED Channel?
Golden Agri Resources, E5H Equal Distance Channel - Bull Trap? Bear Trap?
Look out for the weekly Straits Times Index Analysis posting soon. US stock analysis, HiSoft Technology Stock Analysis coming soon.
By Moses March 13, 2012
DSICLAIMER
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