AGI recently broke its immediate resistance area around 13.90~14.00 which is also a potential breakout from a Bullish Flag pattern with projected target price around 16.60~17.20.
*The gap it created on recent breakout around 14.76~14.98 is a potential level to be filled in the future (may also act as support area)
Current price action is also now near its previous Double Bottom pattern breakout's measured price target around 15.30~15.60.
See previous analysis for reference on prior breakout and trading plan:
https://psetrends.blogspot.com/2017/05/agi-price-action-update.html
Trading Plan
- Buy near the Flag pattern breakout area and set stop-loss on breakdown from recent swing low. Previous major support area around 13.90~14.00 can also be used as reference for stop-loss on breakdown as it will still potentially give a 1:2 risk/reward ratio (relatively high risk though compared to the recent swing low as reference).
- If still trading the previous Double Bottom breakout or in a position trade, see previous analysis (link above) for appropriate trading plan.
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