Golden Agri-Res    Last:0.25    +0.01

Accumulating

The Board of Directors of Golden Agri-Resources Ltd (“Company”) wishes to announce
that Golden Veroleum Limited (“GVL”) has procured a term loan facility from China Development Bank Corporation in an aggregate principal amount of USD 500 million with total tenor of 15 years (the “Facility”).

GVL is owned by The Verdant Fund LP (“Verdant”), a private equity fund, with its first investment in on-going plantation project in Liberia (“Liberia Project”). The Company, the initial and currently the only investor in Verdant, provides a corporate guarantee for the Facility.

The proceeds of the Facility will be drawn in stages over 6 years of availability period and applied solely towards the development of oil palm plantation and related infrastructure in the Liberia Project.

None of the Directors or controlling shareholders of the Company has any interest, direct or indirect, in the Facility.


By Order of the Board
GOLDEN AGRI-RESOURCES LTD


Rafael Buhay Concepcion, Jr.
Director
13 March 2013

 

Accumulation? Upside potential?

 

They still accumulating.

 

GoldenAgr shows bullish sign from several indicators with Support at 0.59 and resist line 0.65.

Agree?

Cheers.

 

i have accumulated enough liao, hope can start the engine soon....

 

1-2-3 Reversal Chart Pattern Trading

1-2-3 chart pattern is a trend reversal chart pattern indicating the reversal of an existing trend. The formation usually occurs at the end of a strong trend. 1-2-3 pattern occurs frequently in trending markets and is considered very reliable. There are bullish and bearish variations for this pattern.



1-2-3 formation starts from a big price movement in the direction of an existing trend to form a highest-high/lowest-low (point 1), then the price reverses for a correction (point 2), then again turns back to retest the support/resistance (point 3) and finally the price reverses and breaks through to start a new trend. The point 3 should not reach or exceed the point 1 level; if it reaches 1, then the pattern is not considered a valid one.

Bullish 1-2-3 chart pattern or 1-2-3 buy pattern forms at the end of an existing downtrend. The price first falls, then starts reversing, but falls again to form point 3 and then reverses and breaks free to form a new uptrend. Bearish 1 2 3 pattern or 1-2-3 sell pattern forms at the end of an existing uptrend. The price first forms a highest high, then starts falling but rises from point 3 and then reverses and breaks free to form a new downtrend.

1-2-3 chart pattern is easy to trade and supports both short-term and long-term trading. The breakout is confirmed when the price breaks the range created in between point 1 and 2. Traders can enter trades when breakout is confirmed.

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Disclaimer…The subject matters expressed above is based purely on technical analysis and personal opinions of the writer. it is not a solicitation to buy or sel

 

1st Resistant at 0.625

2nd Resistant at 0.655

Support at 0.60

 

The last time I posted Golden Agri's chart was at my blog -> http://star-trader.blogspot.com/2010/04/golden-agri-resource-technical-analysis.html . The 3 DOJIs  happened on Monday to Wednesday came in right with accumulation and also distribution at the price of 0.585-0.6. By the 4th day, it closed with a white spinning top with bulk-in volume came in, thus forming another uptrend today which closed at 0.61.

Well, I would say it will move further uptrend if there isn't any neg news that prompts the BBs to collect more and also to ride on another mini-Ewave uptrend but take note to monitor so that you can be out on time with a smaller spread.

SOBAYOR,

Star-Trader

 

 

 

Seem like somebody trying to accumulate by buying 20 to 50 lots every few minutes. Going to push it up soon I think.