Do online contribution to Medisave and get $88 Ang Bao.

"For those under 65, the Basic Healthcare Sum next year will be S$54,500, up from S$52,000 previously, the authorities said." Sou...

Past blog posts now load week by week. The old style created a problem for some as the system would load 50 blog posts each time. Hope the new style is better. Search archives in box below.


"E-book" by AK

Second "e-book".

Another free "e-book".

Pageviews since Dec'09


Recent Comments

ASSI's Guest bloggers

Golden Agriculture: 20% rise in net earnings.

Wednesday, August 11, 2010

Price broke the 58c support to touch a low of 56.5c before closing at 57c.  Volume is higher than yesterday's but not significantly so. The selling down, although formed a big black candle, lacks conviction.

In my analysis yesterday, I mentioned that the MFI could test 50% as support.  Today, it is at 66%.  Still declining, it suggests a weakening in near term demand.  However, the recent higher high gives me reason to be optimistic.

Continuing weakness could see a stronger support provided by the flattish 100dMA at 55.5c tested.  I would increase my exposure to the stock if price should test this support level.  Higher CPO price is good news for Golden Agriculture and would strengthen its fundamentals.


Monthly Popular Posts

Bloggy Award