Just last week, we spotted Golden Agri rebounding off its low and heading back towards the 0.300 resistance level…
From trend indicators, we were pretty much still expecting weakness as the mid to long term trend was down…
Hence some downside targets were drawn to ride any retracement back down… with a plan of course…
See what I mean..
Over the past few days, seems like we have already hit our first target at 0.26 and even that gave way as well..
Seeing some temp support at 0.24 for now but the selling pressure may continue if that fails too…
And likely for our 2nd target at 0.200 to continue… watching..
More for shorts to profit from the downside with a plan..… would not want to hold on to this counter in a downtrend….
See where we are below…
Want to know 2 counters where you want to be cautious too? Watch this video released yesterday on Facebook!
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