Disclaimer: The content posted in this blog is for informational purposes only and it should not be taken as an endorsement or solicitation to buy/sell the aforementioned issues. The information posted here is obtained through personal research and analysis, reserving the right to change them anytime. Investing in the money markets is accompanied by substantial risks to one's capital.
Monday, February 14, 2011
Alliance Global Corporation (AGI)
It would be much safer to assume that it will simply range trade til kingdom come, unless it does a convincing breakout - strong candlestick pattern and heavy volume.
Breakdown to the downside - support at 10.90 - will prompt a sell signal.
Breakup to the upside - resistance at 13 - will prompt a buy signal.
To lessen the risk of the trade, take profits/take cover after the breakout and buy back at the breakout point to test the strength of the trend.
Labels:
AGI,
Charts,
Trading plan
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