Any comments on the news that Kerry Packer had bought into AGI last week?
Despite the share price down from its peak, it seems to be have strong support around the 89-90c mark. The volumes involved during the pullback have been very low indeed, so there is no much support for the selldown of this stock. Perhaps the profit turnaround, instituational support and potential of this stock has caused a re-rating in the eyes of investors. In this case, a 90c base is a good launch point for potential future announcements to rocket the stock beyond the $1 mark. have a look at the recovery of ALL. this may be a 2nd ALL, but since it is a smaller more tightly held stock, an furhter announcements and insto interest can rocket it thru the roof.
AGI Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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