AGI 4.55% 92.0¢ ainsworth game technology limited

I am not quite sure how to respond as I am not aware of your...

  1. 408 Posts.
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    I am not quite sure how to respond as I am not aware of your investment strategy nor your investment time frame.

    If I was a short term trader, I personally wouldn't be selling until price dropped below the 5 day lowest low (currently $2.01 but this sell stop will increase as each day passes). The last rally in Dec last year broke down when price dropped below a 5 day lowest low. The catch-22 is that if you use too tight a stop you might sell out too quickly and miss further gains however if you use too loose a stop you will give away too much profit. If you try & second guess the top of the market you will miss out on profits. Let it prove to you that the rally is over.

    If I was a longer term trader and I was using Dow Theory then I wouldn't be getting out until price dropped below the last major swing point low (currently $1.705). If, & when it does pull back I would be surprised if it fell below the top of the trading range of Mar-Apr ($1.87) but the stock market loves to "surprise" people.

    Comment on today's price action: Price closed half way between the high and low of the day and the low couldn't fall below Friday's low and volume was less than Friday. The MACD indicator is not sloping down as yet although the MACDH indicator has dropped slightly. No indication yet that we should be hitting the panic stations. The intraday chart shows that a lot of support came in at the end of the day to push the price back up. I don't know how true this is but people often say the smart traders buy at the end of the day. This strong rally is weakening but not enough to abandon ship just yet (in my humble & often erroneous opinion).

    P.S. If you want to make money in the market just do the opposite of what I say.
 
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