AGI Technical Analysis: Will We See It Below P10.00 Apiece?

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AGI Technical Analysis? Will We See It Below P10.00 Apiece?

Alliance Global Group, Inc. (PSE:AGI) closed at 10.66, down by 2.20 percent, as of October 10, 2019. The total turnover value reached P269 million. This stock is number one in the list of Top Losers with the biggest total turnover value today.

Alliance Global Group (AGI) - Daily Chart EOD 1 - 10.10.2019

Foreign investors were the main players of AGI today. They registered a Net Foreign Selling worth P103 million.

The immediate support is near 10.30 while the immediate resistance is near 12.

Today’s volume is higher than AGI’s 10-day volume average. That’s one point for the likelihood of seeing the price to continue moving toward the immediate support level.

The 10SMACD and Momentum Power Indicator are both bearish.

I suggest that you ask for our latest insight of AGI in our Private Clients Forum so we can update if you we already see confirmed signs of reversals and buy signals.

Trade-Volume Distribution

Last Price: 10.66
VWAP: 10.7145447
Most Traded: 10.88 – 10.82
Most Voluminous: 10.66 – 10.66

Alliance Global Group (AGI) - Trade Volume Distribution EOD 1 - 10.10.2019

True Market Sentiment

True Market Sentiment on AGI as of Oct-10-2019 at 03:30PM, with a last price of 10.6600.
True Market Sentiment: NEUTRAL
9 of the top 10 brokers registered a positive Net Amount
5 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: 10.7397
Top 10 Players’ Selling Average: 10.8216
Bonus Info:
24 out of 48 participants or 50.00% of all participants registered a 100% BUYING activity
5 out of 48 participants or 10.42% of all participants registered a 100% SELLING activity

This neutral mood of the top 10 brokers shows their lack of a strong desire to buy the dips by a significant degree today.

There is a high probability for the descent of the price to continue.

Alliance Global Group (AGI) - True Market Sentiment EOD 1 - 10.10.2019

Recommendations

Knowing that AGI has been in a downtrend since August this year, your trailing stop (if you’re using one) must have already been hit already. It’s best for you not to enter a new position yet. Just in case you still have it, I strong advise that you calculate your trailing stop immediately. You can use our Trailing Stop Calculator.

On the other hand, you’re in a good position if you don’t have AGI in your portfolio. Wait for the 10SMACD and Momentum Power Indicator to become bullish before you entertain the idea of doing a test-buy on this stock. Besides, once both indicators become bullish, you must calculate your reward-to-risk ratio first. You can use our Reward-to-Risk Ratio Calculator. If you’re satisfied with your reward-to-risk ratio, that’s the time that you should position within the dominant range.

You may post in our Private Clients Forum and request for this stock’s latest Trade-Volume Distribution and True Market Sentiment charts.

You may also watch today’s video for short-term traders. I discussed AGI in the video

Jaycee De Guzman

Jaycee Silverio de Guzman is a computer scientist by profession. He is the founder and CEO of iPresence Digital Marketing, Inc. and Equilyst Analytics, Inc. He is a husband and a father.
Jaycee De Guzman

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