On Friday, Golden Agri re-tests its support at $0.585 and closed at $0.605 with high volume of 97.3 million shares traded.
A long white candle sticks with short upper/lower shadow indicates the buying pressure from the investors.
RSI & MACD are bullish as both indictors continue to trend upwards.
Important Resistance of Golden Agri: $0.62
Immediate Support of Golden Agri: $0.585
Impossible to buy now since prices are well above the 20/50/100/200 days MA and RSI close to overbought region.
If vested, we would advise to monitor the major resistance at $0.62 which is expected to be a tough nut to crack. Be prepared to take profit near that level if the resistance holds.
On Friday, Broadway broke its support at $1.13 and closed at $1.11 with regular volume of 2.09 million shares traded.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
RSI & MACD are bearish as MACD already performed a cross down.
Important Resistance of Broadway: $1.13
Immediate Support of Broadway: $1.09
Currently prices are supported by the technical/100 days MA at $1.09.
Broadways seems to be under selling pressure ever since they reported the earnings report on 28/Jun.
Do not attempt to catch a falling knife but wait for consolidation is the best option.
Do look out if the prices can be stabilized at the support of $1.09.
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