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
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Last
12.0¢ |
Change
0.021(21.2%) |
Mkt cap ! $26.66M |
Open | High | Low | Value | Volume |
9.9¢ | 12.5¢ | 9.9¢ | $129.6K | 1.171M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 9328 | 12.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
12.5¢ | 93657 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 818 | 0.120 |
1 | 25000 | 0.115 |
1 | 200000 | 0.110 |
4 | 190000 | 0.100 |
1 | 80000 | 0.098 |
Price($) | Vol. | No. |
---|---|---|
0.125 | 93657 | 1 |
0.130 | 80952 | 1 |
0.135 | 844 | 1 |
0.150 | 12000 | 1 |
0.160 | 100000 | 1 |
Last trade - 15.54pm 10/05/2024 (20 minute delay) ? |
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Last
12.0¢ |
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Change
0.021 ( 21.2 %) |
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Open | High | Low | Volume | ||
10.0¢ | 12.0¢ | 10.0¢ | 305511 | ||
Last updated 15.52pm 10/05/2024 ? |
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