Hi fellow holders. I have been flicking though a few charts and I have to say I'm liking what I'm seeing in my favorite chart of AGI (The Ichimoku).
Note the patterns in the 2 green circles. IMHO this is the second accumulation and consolidation period. It has formed into a very similar pattern although there's been slightly more whipsaw in the price action. The second bearish cloud segment in the Dec - Jan 2012 -2013 period is also weaker on stronger volume which is encouraging.
IMHO there's been a push recently to accumulate prior to the H1 results hence the volatile price action of late.
I feel we won't get such a dramatic tick up in price as we saw following the initial breakout in Jan 2012 however if the company can nail the H1 results then IMO we will see a similar sustained uptrend develop over the coming months.
All in all a strong looking Ichimoku with price climbing back above the indicators which are above the cloud
AGI Price at posting:
$2.70 Sentiment: LT Buy Disclosure: Held
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