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Golden Agriculture drifts downwards as price moves sideways, supported by the 20dMA. Low volume is observed with a slight declining bias. So, there is a chance of the 20dMA support breaking which would see the rising 100dMA providing support at 50c. I would buy more, closer to the 100dMA. I would also pay attention to the MFI and Stochastics. If these are in the oversold territories then, I would buy even more.
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2 comments:
50 cents will be a good price to enter. But anyway still too early to say any things
Hi Dou,
It depends on one's motivations whether it is going to be a trade or an investment.
For me, Golden Agriculture is more of an investment that comes with trading opportunities as, fundamentally, Golden Agriculture's valuation is more compelling compared to its CPO peers. So, I look out for fair entry prices using TA.
You are right in that 50c might be a fair entry price but will it go lower? Hard to say at this point. :)
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