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
51.0¢ |
Change
-0.050(8.93%) |
Mkt cap ! $113.3M |
Open | High | Low | Value | Volume |
58.0¢ | 61.0¢ | 47.0¢ | $3.731M | 6.712M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 38798 | 51.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
51.5¢ | 11849 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 38798 | 0.510 |
3 | 38768 | 0.500 |
1 | 21265 | 0.495 |
3 | 29343 | 0.490 |
1 | 21265 | 0.485 |
Price($) | Vol. | No. |
---|---|---|
0.515 | 11849 | 1 |
0.520 | 10000 | 2 |
0.525 | 17142 | 1 |
0.530 | 36684 | 2 |
0.540 | 20000 | 1 |
Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
|
|||||
Last
51.5¢ |
  |
Change
-0.050 ( 7.44 %) |
|||
Open | High | Low | Volume | ||
57.5¢ | 60.8¢ | 47.5¢ | 2426818 | ||
Last updated 15.59pm 24/05/2024 ? |
Featured News
AGC (ASX) Chart |