25 Oct 2016
Over the long term, Golden Agri-Resources has been sliding lower persistently within a clear downtrend channel since Apr 2012.
On six occasions over the past 4.5 years, the stock price has always reversed bearishly whenever it came to this key downtrend resistance.
However, there was a breakthrough today.
Golden Agri-Resources has finally overcome this key downtrend resistance line by the market close.
This bullish break was also on the back of a significant surge of trading volume.
Could Golden Agri-Resources be poised to see a further medium to long term recovery from here?