Last March 20, we mentioned in our equity advisor that Alliance Global Group, Inc. (AGI) may soon resume its uptrend after it slipped from just above Php22.00 to below Php20.00 in just 4 days. We were confident that it would rebound since it ended up right at its long term uptrend line. Indeed, AGI got some support at this level. It then rallied from this support and in just a couple of weeks went back to revisit its former highs near Php22.00 which was also our target. By the way, this trade translates to a little more than 10% in gains in just a couple of weeks. 🙂
AGI write-up from the Trading Edge Equity Advisor:
March 20, 2013
Alliance Global Group, Inc. (AGI) may be bound to resume its upward move as it finds itself back at the uptrend line following a correction from Php22.00 to around Php20.00. A bounce off of the uptrend line could send AGI back towards its previous high at around Php22.00. On the other hand, a break below the said support could send it towards Php18.00.
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