AGI ended with a Bullish Doji Star last Friday

Weekly: AGI is still bullish on weekly chart based on Ichimoku although price is starting to cross the Kijun Sen line. This will be our weak bearish signal if it happens. RSI or Relative Strength Index is still going down and not yet on the oversold level.

Daily: Interesting candlestick pattern can be seen on our daily chart. We have a Doji below the long red. This pattern is called Bullish Doji Star. Just like what we have seen on TA’s weekly chart, this might be the reversal point for the stock.

Based on Ichimoku, the trend for AGI on daily chart is downward. If price will indeed reverse then we might see some elements of Ichimoku to turn green. Remember that a Doji is not a strong reversal signal and we still need confirmation via a long green candlestick or a gap up. Absence of which means price will continue to go down.

Caveat!

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