Stock: AGI
Company: Alliance Global Group Inc.
Support: 6.8
Resistance: 7.7


AGI formed an inverse head and shoulders pattern in its daily chart.

The price seems to have reached the end of a period of accumulation at the bottom of a major downtrend; the break up through resistance signals a reversal to a new uptrend.

Recommendation

We recommend buying at current prices. Those more conservative can begin accumulating once it breaks above its immediate resistance of P7.70.

Set cut loss below P6.80. Take profits at around P9.00 to P9.30.

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