agi chart as of 30 aug 2013
(click on the chart to enlarge)
remarks:
1. agi gapped up strong at friday's open .. then continued on stronger the entire session and ending the week 5.48% higher over thursday ...
2. the macd is still below 0 (no buy signal yet) but the histogram advanced for the 2nd day ... the sts is also higher after giving a buy signal last thursday ...
3. it seems that the proxy play is now on for agi .. agi disclosed to the pse last thursday that it was subscribing to 15B shares of TSI/Touch Solutions, Inc@par value in exchange for shares of emperador distillers, inc. ..
4. what to do?
options:
a. it is possible that short term traders (t+3 traders) may already be taking profits next week considering that agi has already advanced 16.6% from its intraday low last wednesday ... so an option is to sell into strength .. with the aim of buying bak the position should agi go lower in the coming days ...
b. just hold the position and adjust the trailing stops upwards .. selling in tranches should successive stops be hit ...
c. just continue holding agi despite the possible volatility ... gambling on the expectation of more positive price action as the suspension of the trading of tsi shares is lifted ...
for an explanation of the indicators ... click: here
for reference .. you may also want to read: my trading rules
p.s. readers are encouraged to check out the stocks' charts themselves .. using the values for each of the indicators (the values for the indicators are the default values used in citiseconline.com's charts) ... in the absence of any personal charting program, the pse website's charts are enough for the purpose
