AGS 0.00% 17.5¢ alliance resources limited

cant believe same guys in this stock, page-3

  1. 807 Posts.
    lightbulb Created with Sketch. 8
    Hmmm If it falls, expect pretty good support at $1.56.
    I would be surprised to see it back at 1-30 again..
    The fibonacci ranges I set tell me that the 61.8 has already been tested as support (1-22).
    The 50% fibonacci has yet to be tested as support.
    This 50% level is $1.56.
    Oh and you might notice the presence of a gap from the 3-8-07.
    This gap was also at 1.56.
    This gap was tested on the 27-9-07 and the price failed to break through. So it went back down to the 61.8% level and bounced.
    On the 30-10-07 the price powered through that important $1-56 level, and surprise surprise it made it neatly to the 38.2 level but could not close above it.
    So where next.... back to the 50% is what I would expect, where resistance has polarised to support.
    I do not, nor have I ever held this stock.
    If it gets to 1-56 and bounces I might think about buying in.
    Chart looks like this
    Cheers
    Commy

 
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