AGI went up following the Piercing Line

The Piercing Line we saw last Friday marks the ascend of AGI for two straight days and as we mentioned, the Kijun Sen line which moves in horizontal fashion attracts the price to come near to it. This is currently our resistance. At this time one should take extra careful as AGI might start to feel tired although RSI is still not in an overbought level. In case price will continue to move upward, the next resistance will be the cloud. For those who were holding AGI, it wont hurt to take profit tomorrow.

No bullish signal from Ichimoku system yet. A break from Kijun Sen will show us a weak bullish signal but that is yet to be seen.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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