Bearish potential detected for AGL

Jan 11

Entry conditions:
(i) lower share price for AGL along with swing of DMI indicator towards bearishness and RSI downwards, and
(ii) observing market reaction around the share price of $9.00 (open of 28th November).

Depending on risk tolerance, the stop loss for the trade would be:
(i) above the declining 200 day MA (currently $9.55), or
(ii) above the recent swing high of $9.63 from 3rd December.

Jan 17

Trade active

UPDATE (week ending 16-Jan): Trade activated on Tuesday, 13th January according to entry conditions suggested above, with decent follow-through in share price throughout the remainder of the week. Charts suggest lowering protective/profitable stops to slightly above the level of the yearly/quarterly VWAP, which currently sits at $8.99 (i.e.: placing stop at $9.01), and adjusting on a daily basis.

Jan 24

Trade closed manually

UPDATE (week ending 23-Jan): Charts are suggesting to cover this short position as at Friday, 23rd January as a profitable trade due to improving technical indicators (this would be in addition to any covering that may have been performed over the past week whilst the share price was lower). Congratulations on a terrific trade!