Singapore Stock Analysis
Last week Golden Agri Resources, stock code E5H stayed bullish for the whole week, riding the wave together with STI rally. The price action ended at $0.735. Monday, the price action get push further higher while the STI index was facing a deep. The high of the day was $0.75. It retest the February 7, 2011 high again. This is the high at $0.75 after eleven (11) months.
Yesterday, January 10 it continues to fight to retest $.745 again and again. It closed at $0.740 which $0.01 higher than Monday closed.
Golden Agri is fighting to break up the critical level at $0.74 and $0.75, if the price could close higher with strength. This will give a lot more space for this stock to retest last January high at $0.83 again.
What is the story the chart is trying to relate to us? We can see a bullish flag trend continuation pattern forming. Were December where the flag body; price consolidation accumulated enough energy for the outburst? Can this stock go rocket high? Who has a crystal ball that can gaze the outcome?
Now, many may say with the gloomy economy and the uncertainty of the global market it will be difficult for this to happen. However, do not forget the price action you see at the chart has already including all the trader’s psychology, emotions and fears.
But, the candlestick has no body is not a good sign. It is very risky with such candlesticks around. Really like to see a few solid big candlesticks around at the rally to support the push.
Monitor the stock and trade with caution. Happy trading.
Other post
Can Golden Agri, E5H Hold Up $0.75?
Stock Analysis – Golden Agri, E5H
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Moses, January 10, 2012
Golden Agri, E5H Daily Chart - January 10, 2012
DSICLAIMER
Information provided here is of the nature of a general comment only and no intend to be specific for trading advice. It has prepared without regard to any particular investment objectives, financial situation or needs. Information should not be considered as an offer or enticement to buy, sell or trade.