Golden Agri: CIMB has Technical Buy Call. Note that prices finally broke out of its consolidation triangle yesterday and house expect prices to push on from here towards the 62%FR levels at $0.745-0.75. If prices can push past this resistance, then it would not be surprise if prices rallied to retest the $0.83 resistance next…..
With its MACD now back above the zero line and with the RSI hook up, momentum has picked up. Recommend Traders add their earlier buys now with a stop placed below yesterday’s low of $0.68. The longer prices stay above its 200-day SMA, the higher the chances of a retest of the old high.
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