AGS - Alliance Resources

[Fab]

Was good that it bounced off $1.65, but I'd be on the lookout for a possible H&S pattern forming up here.

If it fails around $1.90 ish (resistance at $2.00 ish so a possibility) and heads back down, a break through $1.65 could send it to $1.00 ish. (the distance from the neck line to the top of the head is about 60 cents. $1.65 less 60 = $1.00 ish - and also a support line) However, that support line around $1.35 might steady it.

MACD looks like a positive turn up in the short term however. I probably won't re enter until it breaks through $2.00....

Looks to me that it has been grossly over sold if you look @ the RSI.

 

[sydney1963]

Looks to me that it has been grossly over sold if you look @ the RSI.

What is RSI mean????

 

[Sean K]

What is RSI mean????

Try this Syd:

http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:relative_strength_in

Sean

 

[sydney1963]

Halba,

I have to admit you did not get it. I am not here to promote PNN. I am here to promote a method to handle nervous and stress.

Your view and my view cannot move the market. Whether I said PNN worth $4 or your said PNN worth 20c have little to do with AGS share price.

But you have to find a way to deal with the reality, sometimes, you are in a very bad situation. When you are not in good mode, you can easily made poor decision.

I try to think wining or losing is not everything. Gradually, I have less and less feeling about daily up and down of the share price. I admit it is still a long way for me to go to have a peace of mind.

The only way that AGS get out of this problem is by another ann. with the estimate resources under ground.
Before that sp will be any value from 1.5 to 1.8,up &down.
Let us hope that that ann. will be soon,no more than the 2nd week of March.

 

[Fab]

AGS moving up strongly today. Any idea why? Insider trading?

 

[noobs]

The majority of the U stocks appear to be doing pretty well today. Can't wait for their JORC to be released

 

[Halba]

The takeover effect.

 

[Sean K]

AGS moving up strongly today. Any idea why? Insider trading?

SMM/PDN related I guess.

Developing quite a bit of resistance between $1.85 and $2.00. Indicators saying it might be turning back up. Will be very positive getting to around the green circle.

 

[Fab]

SMM/PDN related I guess.

Developing quite a bit of resistance between $1.85 and $2.00. Indicators saying it might be turning back up. Will be very positive getting to around the green circle.

I am wondering if this one could be our next PDN or even SMM (as a takeover target)

 

[Halba]

premium is already built into ags stock. ags stock is a bit of a bore but i continue to hold

 

[Sean K]

Was good that it bounced off $1.65, but I'd be on the lookout for a possible H&S pattern forming up here.

If it fails around $1.90 ish (resistance at $2.00 ish so a possibility) and heads back down, a break through $1.65 could send it to $1.00 ish. (the distance from the neck line to the top of the head is about 60 cents. $1.65 less 60 = $1.00 ish - and also a support line) However, that support line around $1.35 might steady it.

MACD looks like a positive turn up in the short term however. I probably won't re enter until it breaks through $2.00....

H&S formed. Not a good sign IMO. JORC due, so maybe that news will prevent it falling over. Needs to get it out soon...

 

[ezyTrader]

So kennas, that's an ominous sign, esp on today's low-ish volume.
Where do you think if the pattern may be invalidated, if market received the long due announcement well? 1.90?

Plus, too, the fact that it is now listed in ASX300. Not sure what the timeframe is for the actual inclusion, but should be sometime this month, I believe.

 

[ezyTrader]

Oops, just read your previous posts.
So, a clear 2.00 would definiitely bring it out of the woods.

 

[Sean K]

Oops, just read your previous posts.
So, a clear 2.00 would definiitely bring it out of the woods.

Yep, I still think so. It's finished above 160 today, so might escape, but looks ominous. Long, long term holders should relax though IMO.

Having said that, the Quasar JORC is going to have to be damn good! There are a lot of expectations on it and AGS is only earning 25%.

Upside for AGS is the surrounding area. An analysts I know at Lonsec reckons their tenaments around Beverly 4 Mile could house a substantial IOCG deposit and be a company maker in itself.

I'm out now. Waiting for more clarrity from the markets. I hate volatility. I have a bad heart! And it makes me drink too much.

 

[Broadside]

the JORC itself will only cover a fraction of what they have, so the headline number may disappoint some who aren't well researched in this stock, I agree kennas it is the surrounding area that holds the (huge) upside for AGS down the track. The initial JORC will only scratch the surface. There is a massive drilling program funded by Heathgate this year, something like $14m for B4M. That should result in a string of good announcements post-JORC.

They have other strings to their bow M1 and M2 and Maldon gold but I doubt much value is being attributed to these yet, nor should be (yet).

I am a long long term holder I hope the H&S doesn't play out, but if it does I will add if I have the cash at the time. I think the Aussie U spec scene is overheated, if and when the bubble bursts I am sure all U stocks will get hit hard but the quality ones will rebound, I put AGS in that class.

 

[tmallie]

Up 8% today!

Hope this is a change in direction with the JORC hopefully around the corner!

T

 

[Kauri]

Up 8% today!

Hope this is a change in direction with the JORC hopefully around the corner!

T

I've been following this one from an E/W perspective, looks ripe for a turnaround, also trying to see if I can get an entry indication with vol/spread.

 

[Sean K]

Probably isn't out of the threat of the dreaded H&S until it breaks $1.90 ish. Does seem to be an A B C in there though.....

 

[Fab]

What to make of this mornings annoucement? Positive or negative?

 

[Halba]

Extremely positive the 200 hole drill program.