Friday Motivation

"When there are huge losses in the market you'll have opportunities to buy good companies with stocks that have become bad because the market turned down."

- Jim Cramer

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SMC price action analysis

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San Miguel Corporation SMC is recently trading near its immediate support area including the 19-month uptrend line. Trading Plan - Potential buy near support with a stop-loss a few points below immediate support area (keep at least 1:2 risk/reward ratio, the higher the better).
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AGI on another breakout

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Alliance Global Group, Inc. AGI recently broke its immediate resistance area around 13.90~14.00 which is also a potential breakout from a Bullish Flag pattern with projected target price around 16.60~17.20. *The gap it created on recent breakout around 14.76~14.98 is a potential level to be filled in the future (may also act as support area) Current price action is also now near its previous Double Bottom pattern breakout's measured price target around 15.30~15.60. See previous analysis for reference on prior breakout and trading plan: https://psetrends.blogspot.com/2017/05/agi-price-action-update.html Trading Plan - Buy near the Flag pattern breakout area and set stop-loss on breakdown from recent swing low. Previous major support area around 13.90~14.00 can also be used as reference for stop-loss on breakdown as it will still potentially give a 1:2 risk/reward ratio (relatively high risk though compared to the recent swing low as reference). - If still trading the previous Doub...
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AGI on a breakout

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Alliance Global Group, Inc. AGI finally filled the gap at 13.90~13.96 after the recent breakout from its major resistance area around 13.90~14.00. The measured price target of this breakout is at 15.30~15.60 range. *Immediate resistance area is around 14.80~15.00. Please see previous AGI analysis if you entered a position trade when it was consolidating in a Range-Bound price action. That position should be up around 11% ~ 14% by now: https://psetrends.blogspot.com/2017/03/agi-on-range-bound-price-action.html
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