one ta perspective

Not sure if anyone has read catherine davey's May 9th TA analysis in investorweb (now partnered with comsec)-entitled "Icing On The (yellow) Cake).

She selected four U stocks that "currently look cheap and another three that may pullback for a cheaper entry".

Her chart looks very attractive for AGS as a "big mover" and it was her 2005 ags chart that prompted my first foray into alliance at 8c.

Her comments on the AGS chart are as follows: (Not sure what other chartists make of her "retest of 79c" being ideal)

""AllianceResources (AGS)

Like UEQ and CMR, AGS is looking like it's made a dead cat bounce rather than an initial move for a sustainable recovery. This stock already has big mover status because it spent a long time trawling the lows (ie from 2001 until 2006) and was once trading above $6. A retest of the 79c mark would be ideal. A close below 61c and AGS is back in correction mode.""

Apologies from me - a dumb "fundamentalist" - to all the chartists out there who do their own charts.