Stock in Focus: Alliance Global (AGI)

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Have you noticed the new highs in holding firm Alliance Global Group Inc. (stock symbol: AGI)? It is entirely possible that the move is far from over. :)

Philippine Stock Exchange_AGI Daily chart, March 12, 2014

AGI Daily chart, March 12, 2014

The Relative Strength Index (RSI) has continued to decline despite the recent price advance. There is also a bearish divergence (green lines) coinciding with the double top at 30.10.

TP’s Advice: Reduce position or wait for better prices before you (re-)enter (whichever is applicable to you). Keep an eye on price action around 28-30 (this will dictate your decision whether to hold, re-enter, or wait). If price will decline from this point on, again, I’d like to see AGI stabilize above 25.

Do you have AGI in your portfolio? Share your thoughts below!

 

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