BREAKOUT... NEXT STOP $13, page-14

Phillip,

The share price trend is showing signs of strength. The MACD is moving lower, but whilst the blue line is below the red line it doesn't indicate a trend changing to weakness. The slope of the blue is shallow, hence I say it will be a mainly sideways trend for a short while. The Bollinger bands also indicate a sideways trends as they are narrowing. The deviation from standard is reducing hence the narrowing bands. The RSI has dropped from oversold, but it doesn't seem to be going to 50, hence it's not indicating a sell.

My interpretation is the share price will slowly move upwards. There's a major announcement due on the 1st of July, not just for AGL, but all electricity retailers, when the price of electricity is due to increase by 20%. These things are never fully factored in to share prices. Take Elders for example, price was slowly declining up to release of expected negative annual report, and the share price had a big drop when report was released. I expect AGL price will jump in July.