Flatline holding since 5 May to 15 May, 10 days now at 1.3c
Another 14 days of this and we may have a real floor pattern finally instead of all these false floors and ramps. ChiX has more buying volume and not far off ASX volume (strange) meaning the selling volume and shorting is dissipating as the ball keeps bouncing off the floor no matter how hard its thrown, if it concrete and not a false floor then we may see real volume buying and then the ramp upward trend start at some point next few months.
But its only 3 month bear trend atm so another 3 months normally and we will see if its for real. Once we see some bounces 1.3-1.8 then back to 1.3 a few times then this may be the signal for reversal of trend like in October which was very obvious.
Money on the side may be getting fidgety to join but just wait for TA confirmation and the shorting is over.
The selloff looks tired and going nowhere, soon the shorts and Instos may join the longs and then the ramp begins.
Share buybacks of 2B shares at 1.3c for $30M would really see AGO takeoff and the short trade ended but the Board doesn't look like it has been allowed by the bondholders to do this YET! if at all.
AGO Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held
