Healthway Medical falters while Golden Agriculture shines?

Despite a return of positive momentum, Healthway Medical was unable to overcome the initial resistance of 17c which was identified in my post two days ago.  Instead it closed at 16.5c today, forming a gravestone doji in the process.  This is ominous.  Also of note is that the repeated attempts to overcome resistance is not accompanied by any meaningful increase in volume. The upmove might just falter unless we have an expansion of volume with the next push up.  Finally, the MFI is fast approaching the overbought region and bears watching.

Golden Agriculture's price action formed a white hammer today and closed at 54.5c.  This suggests that a trend reversal is at hand.  This is coupled by a buy signal on the MACD.  MFI has hit 50% which has acted as support on two other occassions in the recent past.  An upmove in price would meet with initial resistance at 57c, followed by 59c. 

Fundamentally, the price of crude oil has been on the rise (currently US$81.93 per barrel) and crude palm oil has risen in tandem, closing at RM2,670 today.  This bodes well for Golden Agriculture.

Saizen REIT: Buy signal.

For the first time in weeks, we have a buy signal for Saizen REIT in the MACD on the weekly chart as the price closed at 16.5c.  We see how the MACD seems to be pulling away ever so slightly from the signal line.  This is a positive sign.

On the daily chart, the MACD continues to pull away from the signal line further away into positive territory.  20dMA and 50dMA continue to rise in their merged form, providing a strong support.  The Bollinger bands squeezed four sessions ago and are expanding now, marking a departure from lower volatility as price sets off in one direction, which is up, in this case.

The MFI has formed a higher high which marks positive buying momentum.  Using the technical tool, Ichimoku, we see that Saizen REIT's price has emerged from the upper limits of the cloud (the translucent blue area) and this means that it has emerged from resistance and is free to move higher.

It might still be early days but the signs are promising.  We will need confirmation next week on whether Saizen REIT's price will continue its positive movement.  Good luck to fellow unitholders.