Firstly- WOW! I go away for a week, there's a small slide in SP and everyone loses their minds, all the "told ya so" guys come out of the woodwork and everyone gets emotional. Classic!
Anyway, moving forward, IMO the charts still looks pretty solid. Given the pip value and the nature of the debtholders, putting too much weight on daily charts and getting upset about daily fluctuations is a waste of time, It doesn't take much of a "dump" to make the SP drop 20%.
Daily- Obviously, I'm not excited about the bearish engulfing candle with big volume on the 29th, but that's the nature of these debtholders, so not to worry. We still didn't retrace more than 75% and if you ignore that one big volume day, volume actually contracted during the down move.
Weekly- we managed to close near the week's range midpoint. Strong close around the 50% retrace levels (close is more important than highs and lows)
Monthly- This is the best part and the most important chart, higher highs and higher lows, price reacting at important levels that we've known about since forever 3c 4c and next 5c (debt holders are just taking their opportunity to offload at these points)
We're 2 days into the month and already nearing the midpoint of last month's range!
Conclusion- I'm going to go ahead and agree with RC that price will hit 5c this month, I think that will be the level that the debtholders make their final dump, SP will drop 20-30% and everyone will lose their minds again. If not 5c by the end of February, then it'll be March, that'll coincide with the next IOP leg up.
Che che
AGO Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
