Golden Agriculture: defying gravity

Golden Agriculture gapped up today to start the day at 62c which was the eventual target price and resistance level which I identified in earlier TA. A friend SMS me halfway through the morning to say, "Golden Agriculture is on drugs. It's 65c now!" Indeed, if Golden Agriculture took part in the Olympics, it might have tested positive for steroids as it reached a high of 65.5c and closed at 64.5c on increased volume! Most impressive.

In my previous TA on Golden Agriculture, I said that if 62c is taken out, the next target is 69c. If the price action stays as energetic as it did in the last few sessions, 69c might be reached sooner rather than later. However, it is likely to be a stronger resistance than 62c as it is not only a candlestick resistance/support level, it is also a 123.6% (in red) and a 161.8% Fibo line (in green). Drawing two sets of Fibo lines instead of one is what I do sometimes to find very strong resistance or support levels. MFI has pushed higher into the overbought territory and OBV shows continuing accumulation. With the MFI so overbought at 98%, I wonder how much longer can the gravity defying upmove continue. In keeping with my style which incorporates hedging, I am now 90% divested.