$AGI: Interesting Long-Term Chart

Alliance Global Group, Inc. ($AGI) last traded price as of 30 March 2016 is 17.02.

Here’s the interesting chart of AGI, in a 10-year period, using the weekly timeframe:

AGI weekly

As can be shown above, the stock is approaching a very strong resistance channel line at 17.40 to 17.42 area, which if successfully penetrated or broken, is a start of a powerful good bullish trend towards 19+++ (start of the up channel from the bottom). On the other-hand, you can see the bounce area of the price channel and the lower trend-line, if the breakout fails.

What is interesting in this chart is the same pattern using the 10-year period, in a monthly time-frame.

AGI monthy

You will notice that the last candle is bullish in a monthly time-frame, which seems slowly going up. You cannot expect this stock like a fast horse but currently slowly going up.

In a daily chart, looks like approaching an upper trendline to breakout.

AGI Daily

A trend follower may not be buying this stock until a bullish confirmation of moving averages based on time periods but trend direction is showing sign towards bullishness. If one is buying,  watch out for pullback at support near 17.02, 17, 16.98, 16.90. However, higher reward at 17.42 and 18.20 especially if there is a breakout.  Just identify your trailing stop.

This is not a fast horse with no fundamentals.

 

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