.......next support atm should be around 39-43 imo
Most share prices are being driven only by technicals, in differing sectors, in line with the Market overall atm...A strong Bearish Market Move down now, overall, could easily take the share price back to a low?...
In Oct 08 the share price moved down to 28.5c ...but from there the Company has progressed ...imo
1 The Court action throws up an out of left field bad result...A following announcement will give a "Blowoff Bottom" which could easily take the s/price back to the 20s.....no trickle though!....imo
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2 Court action aside...With The US still on the brink and a so called "double dip" on the cards.....Australia will, this time, be dragged into recession. imo
IF that happens, you could have the Court action resolved, and a doubling of the U Resource and it would do little for the Share price other than spikes and retreats in time, with a "trickle back to the 20s" very possible. At best the s/p would unlikely be much higher in 12 months than it is now ...imo
A drawn out "Bear Market" dictated by a recession is not pretty.
Will U stocks stand the test of time, or more to the point will AGS?
I live in hope.
Sm
AGS Price at posting:
53.5¢ Sentiment: LT Buy Disclosure: Held
