torquio
Long

AGEN: ready to launch

NASDAQ:AGEN   AGENUS INC
AGEN has retraced 61.8% of the first impulse leg higher and is ready to rally again.
Comment: 17th September 2020 - 54% return on this idea

Comments

Hi, thank you for your analysis. I had bought AGEN on 8/11 @ 3.62 - did I get in at a decent buy point? I am new to technical analysis. Can you help me understand how you determined the target area? Thank you!
+2 Reply
torquio livefire2020
@livefire2020, Hi Livefire thank you for your comment. I think AGEN at 3.62 is a good entry level. I calculated my targets using fibonacci extensions of the first upmove which gives a target of around $6 if I am right.
Reply
@torquio, Thank you very much. This is really cool. First time trying this tool. I think I am slightly off at the 1 - mine being 5.84 compared to your 5.92. I didn't have a 1.23 level as you show, can you tell me how I could determine that as you had done? My upper top bar for 1.618 shows a price of 7.69.

Not sure how I am off:
I selected the bottom low candle on March 23, 2020.
I selected the top high candle on June 2, 2020.
I selected the bottom low candle on July 30, 2020.

I wanted to try another example on the same chart:
I selected the bottom low candle on March 23, 2020.
I selected the top high candle on April 20, 2020.
I selected the bottom low candle on May 14, 2020.
It then shows that the price rose to the 1.618 level (4.20).

So when Fib Extensions are used, these are just probable areas that could be reached, is that correct? Is there typically a level that usually is consistently reached that you have found that you can count on? Thanks for the coaching/mentoring here. Trying to really dig in to understand this.
Reply
Hell yea, I’m in 2% at 2.85. This is a great one.
+1 Reply
torquio ProfitHarvest
Reply
Oooh, thanks for the reminder! I’m already in .5% at 2.35 on this guy... love the upside potential. Probably gonna double it up and let it ride some more B).
+1 Reply
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