AGI price action update

Alliance Global Group, Inc.

AGI fails to break the immediate resistance area at 14.80~15.00 and currently, in a pullback mode.

The previous major resistance prior to breakout from Triple Bottom pattern has now becomes the major support area - around 13.90~14.00.

*The Triple Bottom pattern breakout remains valid with a projected target price around 15.30~15.60.

See previous AGI analysis related to this Triple Bottom breakout (was mistakenly mentioned Double Bottom before):
https://psetrends.blogspot.com/search/label/AGI

Trading Plan
- If previously trading the Triple Bottom breakout, set a stop-loss on major support breakdown (13.90~14.00).
- If in a position trade as recommended by previous AGI article during consolidation, take profit if trailing-stop on remaining position was hit.


Comments

Post a Comment

Popular posts from this blog

JFC looks toppish

Image
Jollibee Foods Corporation JFC's price action is now at the resistance line of an upward price channel. Yesterday's candlestick pattern also needs monitoring as it may develop into a bearish star pattern variant like an Evening Star pattern *Major support at 260 Trading Plan - For short term trading position, take profit or scale down position. - Set trailing-stop on remaining position.
Read more

PHEN harmonic pattern update 2

Image
PHINMA Energy Corporation PHEN technically completed the Bullish Shark harmonic pattern and fully tested the 2nd PRZ (Potential Reversal Zone) area around 113% retracement. A Bullish Engulfing pattern also formed up around the PRZ area - a potential trend reversal candlestick pattern. See previous analysis of this harmonic pattern here: https://psetrends.blogspot.com/search/label/PHEN Trading Plan - Buy as close to the 113% retracement PRZ area. - Set stop-loss a few points below the recent swing-low. - Potential TPs are the 38.2% and 61.8% retracements.
Read more

AGI breakout update

Image
Alliance Global Group, Inc. AGI is on a breakout continuation after filling the gap at 13.90~13.96 which also serves as its major resistance area. The measured price target of this breakout is at 15.30~15.60 range. *Immediate resistance area is around 14.80~15.00. It's already up +17% on position play (see link below for more details on this trade recommendation): https://psetrends.blogspot.com/2017/03/agi-on-range-bound-price-action.html See previous analysis: https://psetrends.blogspot.com/2017/04/agi-on-breakout.html
Read more