AGF.B trade ideas
Head and Shoulders or Inverted Flag? Thoughts of a NoobClose watch on march 5th:
-expect price to reach 7.15 if inverted flag is confirmed
-if flag confirmed look for MACD bullish zero crossover
-if bullish zero crossover confirmed, expect RSI levels to be short-50s
-expect price to reach 7.25 if right shoulder pattern is confirmed
-if shoulder confirmed look for MACD signal crossover, RS probably not strong enough momentum to break death zone
-look for low levels of RSI to confirm trend
**if MACD downtrend and price uptrend keeps up until March 5th, might discredit patterns
**second longest oversold RSI period (prior was 70-d), currently 63 and counting
-> if oversold period coincides with prior, may expect heavy downtrend
-> historically, AGF shown bad reaction to overselling periods (i.e. not attractive enough to buy the dip?)
Buy in: 7.15
Stop-Loss: 6.70
S0: 6.21
S1: 6.74
R: 7.25
R1: 7.40
R2: 7.60
-The Intern
P.S. Please do comment / trash / like / suggest / troll, I would love to get as much opinions on this, I am new to the game and everything can help!
