That is my read exactly. I was very pleased last week (or earlier this week?) when we held support at $3.45 that was crucial to keep the pennant forming.
And the last 3 days of trading have been great. Very steady with some small gains, while the rest of the market has drifted lower.
I can feel the tension in the price. I haven't read the Fin Review article but something small like that could give that impotus needed to break out to the upside.
If my understanding of a pennant is that if it breaks out you can give a rough estimate of the new price target as the distance between the top of the pennant forming and the bottom. In this instance that is around $1. $4high to $3.05low.
So a breakout now would come at around the $3.75 mark. So a new target there or there abouts would be $4.75.
Longterm Bull on AGO - DYOR
Cheers,
Tim B.
AGO Price at posting:
$3.59 Sentiment: Buy Disclosure: Held