Bearish potential detected for AGL

28 Jun

Entry conditions:
(i) breach of the lower confines of the Darvas box formation for AGL
- i.e.: below low of $9.84 of 7th April, and
(ii) swing increased bearishness of indicators such as DMI/RSI along with a test of prior level of support of $10.02 from 11th March.

Stop loss for the trade (based upon the Darvas box formation) would be:
(i) above the high of 10th April (i.e.: above $10.89), or
(ii) above the prior support level from the open of 10th January (i.e.: above $11.15), depending on risk tolerance.

28 Jun

Dagangan aktif

UPDATE (week ending 27-Jun): Trade activated on 27th June with both entry conditions above satisfied. The share price closed below both 10 and 30 day MA's at the end of the trading week.

5 Jul

Nota

UPDATE (week ending 04-Jul): Price action could be potentially turning around with a test of the prior support/resistance area of $10.02 from 11th March. Note that the share price is currently trading between the 10 and 30 day MA's - observe the DMI/ADX and RSI indicators for confirmation of the turnaround.

kelmarin

Nota

UPDATE (week ending 11-Jul): Newer low of $9.57 formed during the week ($0.15 below the previous low), with suggestion to improve protective stop $0.15 lower to $10.67 ($0.23 below one tick above Darvas box).