are we there yet?

1. denotes 21 Dec 2010, takeover of GIR, low of the day $2.80.
2. 28th Feb offer closed, SP closed at $3.85 (+37% gain)
3. 27th June, takeover of FRS, low of day $3.25
4. Parallel Trend Line to break out target.

Blue horizontal line (around $4.70) is where I think we are heading. Target derived from 1. The widest distance of the symmetrical triangle applied to the breakout. And 2. From a trend line from Feb 2011 top that is parallel to lower triangle (noted as 5 in the above chart), this extension line marks the potential SP target.




The above highlights a possible repeating range, time lines are in essence GIR takeover being announced to closing date. Second repeating range is FRS takeover being announced to proposed closing date of 19th September.

After which I think AGO could form another symmetrical triangle highlighted in pink and trade is a similar fashion to the triangle we just broke out of.

Disclaimer: DOW performance is critical in AGO achieving the desired target, and no negative surprises from the quarterly.