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AGL about to collapse

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Not applicable
its stopped at resistance at R309-45 and struggles to pass this, a close below R301 would send this one to R280.. yet a close above R310 would send it to R345.. keep a tight stop loss at a close about R312
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23 REPLIES 23
jack12
Super Contributor
Yes AGL is struggling on resistance. A pullback will be healthy (most TAs are high and rising top of BOL, RSI, Stoch BUT Ultimate is falling!!). IMO the 297-299 was thinly traded that is my support level, failure to close above 297 will see a probable pullback to 290 major support at 278. Volume was slightly higher. I am expecting some sideways movement
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Fredsed
Super Contributor
This wants to break, building pressure. Latest move above R300 is 3rd serious attempt. R300 appears to be the basement floor for the foreseeable future.
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Not applicable
wow, this is a tough one, broke top at R307-46, bt stil at resistance R309-50 (09 sept. 2008).. once it breaks R314-20 resistance, its gone.. any short term and T.A traders views?
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Theater_Cat
Super Contributor
Maybe there is somebody out there who can explain to me why - when the price is set on LSE - we are not concerned with rather charting the "UNDERLYING" i.e. AAL rather than JSE listed AGL? SIMON, CAN YOU OR ANY OTHER EXPERT SHED SOME LIGHT?
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Theater_Cat
Super Contributor
Maybe there is somebody out there who can explain to me why - when the price is set on LSE - we are not concerned with rather charting the "UNDERLYING" i.e. AAL rather than JSE listed AGL? SIMON, CAN YOU OR ANY OTHER EXPERT SHED SOME LIGHT?
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SimonPB
Valued Contributor
this debate has been around for ages .. my view is that it matters not .. wehter you track it is ZAR or sterling, the one largely follows the other ..
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jack12
Super Contributor
so now AGL has broken the 310 barrier I expect more upside to 318
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richardw
Super Contributor
When making predictions, you really have to differentiate between a crystal ball and a ball of crystal meth.
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Galuc
Super Contributor
Bad call this one! If I learnt anything at the seminar this weekend was FLOW WITH THE MONEY, the stops will get you out.
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THRESHOLD
Super Contributor
A nice effect which we saw recently was the RSA Anglo to decline while the GBP Anglo held onto its rising tops through the weakening pound effect. This amounted to a buy divergence. When the rand reversed, it popped Anglo through resistance with it!
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eddy66
Super Contributor
Great call great caller!
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Not applicable
oh eddy, out of the last 5 calls incl this one.. i only gt this one wrong.. and stopped out at R314..
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jack12
Super Contributor
sitting on resistance 330, if it gets its leg over 350 is my target. But we may have a slight pullback, volumes are dropping off, momentum is sowing down.
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Not applicable
GC, I dont think wrong, just to early. it had to test 330/335 and I think w are in for the down leg shortly. If jack is right 350 could be next but unlikely at the moment. Eddie66, nice to see you still breathinh with us ;-)
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jack12
Super Contributor
GC I see your call was good as it did not close below 301 on the day, 2nd it did go above 310 and did go to 330 and it seems to have hit a wall.
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SimonPB
Valued Contributor
in trading .. too early (or too late) = wrong ..
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Not applicable
But Simon I brought stock for 15 ice-creams today....
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SimonPB
Valued Contributor
oopppss .. today is cold .. tis a hot chocolate day ??
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Not applicable
See...to late so now I am ******..... this is a good way to demonstrate market timing I guess
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