Golden Agriculture: 3 signs of possible weakness.

I am waiting to add to my long position here. There are signs that price could see some weakness in time to come.



1. Formation of a gravestone doji today on much higher volume. This suggests that buyers were unable to beat sellers as market participants mostly chose to lock in gains.

2. Declining volume as price rose. Volume is the fuel that drives rallies. Without volume, rallies would

STI in retreat: Sound Global, Golden Agriculture, Keppel Corporation and REITs.

STI 2,789.35 - Down 66.42 pts.


Not a pretty sight, is it? Scream in panic? Run around in circles? Sell everything and jump off a cliff like lemmings? There is plenty of fear. What should I do? Stay calm and look out for opportunities. I have spent time looking at various counters and I will talk about a few here.

More than two years ago, I went in big on E-pure, the current Sound Global,

Golden Agriculture: 200wMA cleared.

Golden Agriculture closed above the 200wMA in the last session. Cleared of this hurdle, we could see its share price going higher from here.


It is interesting to observe that the 50wMA has been crucial as support, seeing how share price bounced off the line each time it was tested in the past.

It would not be unrealistic to expect any retest of the 50wMA to see strong buying interest.

Golden Agriculture: 68c support.

In my last blog post, I said that chances of a breakdown in price are higher. I have been proven wrong by Mr. Market, once again demonstrating the risky business of guessing Mr. Market's future movements.

Golden Agriculture's share price touched a high of 71.5c on very high volume before closing at 70.5c in the last session.


People ask me if the price could go higher? Well, only Mr. Market

Golden Agriculture: FA and TA.

I retain a very small long position in Golden Agriculture. The price of crude palm oil (CPO) has made a new low for 2011, closing at RM3,040.

"Inventories are likely to accumulate in the coming months, unless prices fall to around MYR2,700-MYR2,800/ton, levels that might spur strong physical demand for the commodity and prompt traders to buy on dips, said a trading executive in Kuala Lumpur...

Golden Agriculture: Strong resistance.

I am still bullish on the long term fundamentals of crude palm oil. The more robust demand for the vegetable oil in emerging economies, especially in China and India, will provide a floor to any correction in price.

A correction? Yes, prices do not go up in a straight line. If prices do move higher, they climb a wall of worries.

The share price of Golden Agriculture is finding it hard to move

Golden Agriculture: A steeper trendline resistance.

Has Golden Agriculture's share price turned bearish? I would not say bearish exactly since the uptrend that started on 23 Feb 2011 is still intact. However, the inability to form a higher high is worrisome. Having said this, price could go as low as 66c in the next couple of sessions and the uptrend would still be intact.


Looking at the chart, the trendline resistance that started on 30 May

Golden Agriculture: Contra at 68.5c.

Golden Agriculture saw 90,289 lots changed hands today with 15,147 lots done at 68.5c after market closed.



In my last blog post on Golden Agriculture, I identified 68.5c as the immediate resistance as provided by a confluence of the 20d, 50d and 100d MAs. So, I put in a sell order last night for those units which I bought at 66c yesterday. My sell order was filled, locking in a gross gain of

Golden Agriculture: Bought at 66c.

Been another long day and I just settled down at 11pm or so. Will be another couple of weeks before I settle into a new routine. Until then, I will be blogging sporadically.

Today, my buy order for some shares in Golden Agriculture at 66c was filled. I also have another buy order at 65.5c which was not filled.


65.5c is at support provided by the trendline which started on 23 Feb. So, buying

Golden Agriculture: Critical support at 67.5c.

Regular readers might remember that I was queueing to buy some shares of Golden Agriculture at 67.5c, having divested most of my long position not too long ago. The reason was because 67.5c was support in an uptrend which started on 6 May 2011.

Did I say "was"? Yes, I did. The uptrend which started on 6 May 2011 has been broken as price closed below the trendline support in the last two sessions

Golden Agriculture: Further growth.

Feeling somewhat groggy from watching two movies back to back but I have some thoughts about Golden Agriculture which I would like to pen. I like Golden Agriculture's business and I like its numbers. I also like its technicals.


I am still in the queue at 67.5c to add to my long position. The neckline of a potential head and shoulders pattern is at 65.5c thereabouts. I would like to accumulate

Golden Agriculture: Accumulate on weakness.

I plan to accumulate Golden Agriculture on weakness. This would mean at 67.5c support as provided by the trendline support connecting the lows of 6 and 25 May 2011. I would not, however, throw in the kitchen sink. This is because if 67.5c should break and if price were to close lower, we could see price going to 65c and the long term uptrend would still be intact. Buy more at 65c is what I would

Golden Agriculture: Watch the 100dMA.

Golden Agriculture had another high volume white candle day but price could not close above the declining 100dMA and a long upper wick was formed in the process. This is the second time in the last few sessions which saw the 100dMA broken but, ultimately, remains the resistance to watch.

Could we see price moving higher in the next session, overcoming resistance provided by the declining 100dMA?

STI, Golden Agriculture, Capitaland and CapitaMalls Asia.

The STI closed 58.06 points lower at 3,110.48. There is probably some pain and some panic in the air and we have the usual doomsayers out in force today. So, going by what I have said, am I a bull more than a bear? I am neither a bull nor a bear. I like to think that I am a pragmatist.

Most of my portfolio is made up of REITs. Today, we see AIMS AMP Capital Industrial REIT, Sabana REIT, Cache

Golden Agriculture: Divestment at 70.5c.

I am feeling the effects of age as it catches up with me or, perhaps, I just have too much on my mind lately.

It was my intention to divest partially at resistance and to keep some in case price should go higher. This has always been my style. Today, I made a mistake and sold all my stake in Golden Agriculture at 70.5c, the immediate resistance.


It makes sense to sell some at 70.5c not only

Golden Agriculture, Sabana REIT and AIMS AMP Capital Industrial REIT.

This is going to be a very quick post. Well, I hope it would be anyway as I am really tired today from work, mostly housework. All the housewives and maids have my deepest respect.

Golden Agriculture

Golden Agriculture provided some excitement today as patience finally paid off. A wickless white candle was formed on the back of much increased volume, breaking resistance provided by the 20d,

Golden Agriculture: Eyeing 96c per share.

Are you rubbing your eyes? Are you pinching yourself? 96c per share for Golden Agriculture? What's the price now? 67c per share. Wah! Quick, put in a buy order for Wednesday! Wait a minute, who came up with that target? OCBC Research. The link is provided here:







STI declines 1.3% to 3,113.76 at closing,