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Online Share Trading

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AGL - Breakdown!

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jamoo
Frequent Contributor
hey, short or long? anyone pls
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10 REPLIES 10
platsak
Super Contributor
Look at daily tech analysis on Friday. "Retesting important support: AGL is struggling to hold above the 30,900cps key support level. After having completed a doubletop pattern, it bounced on the 30,900cps targeted support level, but fell shy of scaling the 36,200cps resistance/buying level. Now sellers have returned, and if AGL closes below the key level by Friday, it could complete a 100% retracement from levels last tested in 2005. First support would be at 23,375cps, with secondary support at 13,390cps. NOTE: Given its oversold RSI, AGL may recover and close above 30,900cps. Even so, the buying level remains above 36,200cps. Once breached, upside to the 43,700cps resistance level is possible. Returning to its primary bull trend would be the next challenge, but a successful entry (trading above 43,700cps) could spur movement back to the 55,700cps all-time high. We recommend investors go short at a close below 30,900cps by Friday." Judging from this morning 6% drop this morning the 23375 level seems imminent. John seems bullish on the share when it reaches the 4% div yield level. Maybe he would like to elaborate for the rest of us. Personally I put it on the watclist for the next support level.
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Parttimer
Frequent Contributor
Short term, put your hands under your butt,stay put and say three Hail Mary's. Top up your position for long term, you will be very happy. BHP is by far a better punt as they aslo have the oil component in there, not just the metals.
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platsak
Super Contributor
BIL coming up on Aug 2007 and Jan 2008 support. Waiting to see if there is a bounce. Looks juicy at 180. Any other opinions out there?
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venice
Super Contributor
Both of the above but not always in that order. IMO the only way to trade this market is to stay in cash or ALSI futures. Sit on your hands is excellent advice.
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john_1
Super Contributor
Anglo's has never ever ever cut its div...Historically 4% has been the high range of it div yield and close to 1.8% the low of its range, it has major up trend support arround 250 which is a div of 4.2% so I will be looking to buy at around 260-270 on a bounce for the long term never touch portfolio. It means also that for this level to hold we will need to see global equities bounce..
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venice
Super Contributor
Carry's on like this for much longer and you will get your wish soon.
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DST
Super Contributor
I admire your faith, but it gets a bit like GVV and the Hansie fillem. Are you sure about the never ever statement?
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john_1
Super Contributor
here is a thought...Extrata fails as its over leveraged and its credit lines collapse...leaving it selling its assets to Anglo and Bil and Rio at a major discount Making anglo the world biggest in the world and adding to its bottom line..
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DST
Super Contributor
Initailly, the response would be along the lines of "As my antie het balles, dan was sy my oom". Thinking fractionally further, though, Mick Davis' tenure as a director of Specialised Outsourcing may have left hime with a UGR that will bring him & Xtrata down. [unfulfilled greed ratio]
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Brazen
Super Contributor
Mick Davis wants to be Brian Gilbertson.
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