Holding firm Alliance Global Group Incorporated (stock symbol: AGI) has been in a steady decline since its mid-November peak above 27. However, it has shown some signs of life after holding at 22 on Thursday and printing a bullish candle off of the same level this Friday, simultaneously registering the largest trading volume since October.
The MACD Oscillator (MACD-O) indicator remains below the zero level and this supports the recent decline. Nevertheless, I expect AGI to stabilize above the 20-22 area and at least challenge the 24-25 area in the near-term.
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