Stock in Focus: Alliance Global (AGI)

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…And holding firm Alliance Global Group Inc. (stock symbol: AGI) did stabilize above 25. :) In fact, it has stabilized close to the 30 psychological level in the past several months.

Philippine Stock Exchange, Alliance Global Group_AGI Daily chart, June 10, 2014

AGI Daily chart, June 10, 2014

Yesterday, AGI gapped up at the opening and eventually made its first close below 30 for this month. Let’s see if this will have some weight, considering 30 is the immediate line in the sand.

Good support is expected around 26-28. If this breaks, price would be bound for 20-22. On the other hand, the upside remains wide open and AGI has plenty of time to reach new highs for the year.

The Relative Strength Index (RSI) is back below 50 after today’s price action.

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

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