Golden Agriculture: Doing a flip flop.

When Golden Agriculture confirmed the 52c support yesterday, I said that "I would have liked to see the volume expanding more convincingly as well as to see a more enthusiastic candlestick instead of a doji. The confirmation, to me, at least, looks just a tad unconvincing." 

Today, 52c has become resistance again.  This needs confirmation next week.  Since I talked about volume yesterday, what about today's volume?  It's only a tad more than yesterday's.  So, the sell down is unconvincing either.  This is beginning to look like a narrow rangebound trading pattern with neither bulls nor bears gaining the upper hand.  The crucial support level at 50c was retested today and held firm.

Strategy:  I have already added to my position at support.  Longer term uptrend is intact.

Healthway Medical: Accumulate on weakness

Healthway Medical managed to close unchanged from the previous session at 15c after opening at 14.5c.  Is this a sign of real strength or is it an illusion?  Thin trading volume with a rising MFI suggests that the weaker holders are being shaken out.  Healthway Medical may very well test the 38.2% Fibo support identified earlier and that is at 14c.  The fact that this coincides with the rising 50dMA lend credence to the claim that 14c is likely to be a strong support.  Worst case scenario is a retreat to the 100dMA at 13c which is also a many times tested candlestick resistance level and is, therefore, likely to be an even stronger support level.

Strategy:  I will accumulate on further weakness as I see limited downside.