AGL Chart, page-681

This chart actually looks so hot. I'm not certain, but I think a V-shaped recovery definitely looks to be on the cards. I'll show my analysis below.


For one, we have clear bullish divergence on the weekly time frame. You can see the divergence on the RSI and the price action.


Another contributing factor is the 20W SMA and 21W EMA. These are often referred to as - at least by me - the bull market support band, which is otherwise one of the more crucial aspects of holding an uptrend. You can see in the above chart that we've been bumping our heads - shown in the blue circles - at resistance from this band for almost a year now, but it looks like we've blasted right through. Again I would like to see where this weekly close lands, because to me if we close above this band it is an indication that the trend is shifting.