What's New?

Monday, September 1, 2008

StockWatch: AGI

I bought AGI last week @ 3.65 because I saw the falling wedge pattern. I was at first skeptical because it seems to be early to breakout from the wedge since it has only three touching point. Anyway, I still took the risk partly because I read in the paper that AGI has launched a buy-back program.

After buying @ 3.65 I set my target price @ 4.15 based on my wedge pattern. So last Friday, I posted @ 4.15 and it got matched.

AGI last Friday closed @ 4.65 with a very tall white candle. It seems AGI is aggressive in its buy back program campaign.

DOW ended in read last Friday so I wonder if AGI will do a pullback tomorrow. I wonder at what point will AGI pull back. I measured the retracement 50% - 4.25 or since it's bullish might retrace only at 38.2% - 4.35.

Anyway, let's see how this stock move - I'll definitely be watching this stock.

5 comments:

Anonymous said...

I'm also a programmer, but I'm a buy and hold type of trader though.

I'm more into psych analysis, search and buy for bargain stocks (Relatively Low P/E ratio)


Philippine Stock Exchange

PSE Trader said...

Hi,
I've read that true chartist do not care what company they are betting on as long as they see the chart values.

How much % in gains have you made so far?

KnowYourProfit said...

This blog is novice and informative,it is a pleasure to post a comment on this usefull blog created by a webmaster

Now as such the final stages of the formal completion of nuclear deal has come,so we can expect some positive news effecting the
movement of the INDIAN STOCK MARKET which means stocks coming in power sector will take new direction

Companies which will benefited includes mainly

1.Larsen n Tourbo(LT)
2.Hindustan Construction Co. Ltd(HCC)

and the list had few more names..

Happy Trading

Have Query

Feel free to contact us at


Team
www.knowyourprofit.com

+91-9871142419

Anonymous said...

Hi,

Once again after crash Nifty has started going up. Now we suggest all rises should be used as an opportunity to exit old long positions.
This bull run will continue for few more days. Overall market is in bearish mood as in medium term its just a small rally due to short covering
and result season.


Happy Trading,

ShareGyan

sharegyan said...

Hi,

Once again after crash Nifty has started going up. Now we suggest all rises should be used as an opportunity to exit old long positions.
This bull run will continue for few more days. Overall market is in bearish mood as in medium term its just a small rally due to short covering
and result season.


Happy Trading,

ShareGyan