GoldenAgri closed $0.73 on 12th Nov 2010 after hitting an intra-day high of $0.785 last week.
Technically, price level is pulling back at the moment but looking at the bigger picture, since Oct 2008, it has established an uptrend till now still valid. Prices have been trading within the uptrend channel since then. The lower boundary of the uptrend channel is at $0.60 while the immediate upper boundary of the uptrend channel is at $0.85. The next higher level of upper boundary is at $1.00. Looking at the first half of the year 2008, it has been range bound between $0.85 to $1.00 before it collapsed. Hence, the ultimate target for the uptrend channel could be between $0.85 - $1.00.
Unless price has broken down at $0.60, the uptrend channel still valid. Meanwhile, the current pull back might find some support at $0.70, the median support level within the uptrend channel. As such, the pull back could rebound from $0.70 or at $0.60 level.
