Honestly, I would'nt rely on any recommendation given by aussiebulls. They base their buy/sell decisions solely on candlesticks chart patterns only. Other technical indicators like RSI, Williams %R, MACD, On balance volume etc are not taken into account making their advice less reliable.
Frankly, the trend in AGO has changed. What we witnessed last week was a minor pull back before it continues its journey upwards. Considering their are 9Billion shares on issue this road upwards is going to be quite steep and hence not easy. Patience is the key and will reward the one who waits.
The SP has broken through the 20DMA on high volume the week before moving above the middle bollinger band. Sideways movement and pullbacks are fine as long as it doesnot break the 20DMA support. We will notice a similar price squeeze before it moves up.
Long term selling pressure in AGO has now given way to near term accumulation. Instos have started buying into this and they are very good at playing with our minds. People often get frustrated waiting and give up/sell their shares only to see it move up once they do that.
Just hold on to your parcel and enjoy the ride.
All the naysayers can put fingers in their ears and go lalala..but this dog is ready to pull your pants down...
DYOR, this is just my opinion and not financial advice. Cheers.
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