AGC starting to present a few opportunities post the recent spin out / IPO back in January with a number of legacy shareholders not looking to retain exposure selling down on market.
With circa $8mil in the bank, the company is sitting with an EV less than $5mil at present with drilling of a key target underway. Risk v reward at current prices IMO is solid.
A seller of reasonable size has been active at this 13c mark for the last two weeks and once finished, the handbrake should come off.
A look at the short and medium term setups:
Daily -
Interesting sideways consolidation at the current mark inside the channel range. If we continue to see prices remain at the 13c mark for the next 3 - 4 days it will meet the topside of the channel range and setup for either a meaningful move higher or another test of the recent 11.5c lows.
A close above 13.5c will indicate a breakout of this sustained downtrend since listing and will likely draw in additional technical orientated buying.
Indicator wise the RSI is grinding higher + MACD is trending positive back towards the all important 0 control line. Once it reaches this level it can open the door for an explosive push to continue the move.
A close below 11.5c will indicate further downside to occur within the current channel setup.
Weekly - medium term
14c is the critical price level we need to see a close above for a medium term shift in momentum and price action.
All indicators are making moves higher from oversold levels with the MACD in the process of printing a positive cross.
I think there's some value to be had at current prices, even if for a punt
AGC - Setup at play
- There are more pages in this discussion • 24 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add AGC (ASX) to my watchlist
(20min delay)
|
|||||
Last
7.9¢ |
Change
0.001(1.28%) |
Mkt cap ! $17.55M |
Open | High | Low | Value | Volume |
8.0¢ | 8.0¢ | 7.8¢ | $14.20K | 178.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 7685 | 7.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
8.0¢ | 275207 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 7685 | 0.078 |
1 | 20000 | 0.075 |
2 | 20000 | 0.070 |
1 | 70422 | 0.062 |
1 | 17856 | 0.056 |
Price($) | Vol. | No. |
---|---|---|
0.080 | 275207 | 2 |
0.082 | 45000 | 2 |
0.085 | 12425 | 1 |
0.087 | 41266 | 1 |
0.090 | 42611 | 2 |
Last trade - 15.03pm 25/04/2024 (20 minute delay) ? |
|
|||||
Last
7.8¢ |
  |
Change
0.001 ( 2.50 %) |
|||
Open | High | Low | Volume | ||
7.8¢ | 7.8¢ | 7.8¢ | 895 | ||
Last updated 10.26am 25/04/2024 ? |
Featured News
AGC (ASX) Chart |