Very glad that 36 held from a TA standpoint. The weekly SAR is 35.64 and was a buy initially at 13.5c. Really don't want to see that broken. It was defended nicely by the bulls today. The wild run since the ML ann (33c-61.5c)has retraced nearly 100%. Nice to see it close near its high today though.
The asx daily short list shows little to no shares short. This can't have all been profit taking. Maybe someone with a decent position is selling down their own shares to hit stops and grab them back and more at lower prices. This selldown has been on lower volume than on the way up.
Previous horizontal resistance at 36 and 38 on the way up on the daily should help to act as support as well. The daily 50 EMA is 36.9. Stochastics way oversold but not turning yet. Still waiting for that downtrendline from 61.5 to break. Needs about 40.5/41. A decent day tomorrow will do it. With increase in volume as well hopefully.
Charts are looking fairly bearish at the moment. A higher low and high tomorrow could be confirmation of a bottom.
Futures on DOW currently at +49.9 so hopefully a better night OS. Europe markets all currently green. Not that the 200 drop affected AGS too much as it was already down 40% in a couple of weeks.
Has been hard work the last week on AGS. I have been accumulating. Good luck.
Peace out.
AGS Price at posting:
38.5¢ Sentiment: LT Buy Disclosure: Held
