The following is my personal Technical Analysis for Golden Agri-Resources Limited listed in Singapore Stock Exchange. I will not be reliable for paying any loss incurred for believing what I said. Of course I will be happy if you could make money because of this Golden Agri technical analysis.
This Golden Agri Technical Analysis chart is taken on 08th July 2011 using shareinvestor station software. Click on the image for clearer chart.
Trend : Breakout the triangles from above. Hopefully it can keep going up.
If you look at the chart above, Golden Agri has been trading in a very tight range, and the range is getting smaller and smaller. And it has form a perfect Symmetrical Triangles. Investors has been losing directions for quite a few months. Now with massive trading volumes last Friday at July 9th, Investors has finally decided the directions and it finally sucessfully breakout of the triangles. However, now market is very volatile and is easily affected by the world market and economic conditions like European Debt and US economic recovery worries. So if you are a aggressive traders, trade and set a cut loss point in case anything goes wrong. If not, wait for a few days for confirmation.