drsguy437

Go Long AGNC?

Long
drsguy437 Updated   
NASDAQ:AGNC   AGNC Investment Corp.
As you can see we have bullish divergence in the MACD. The two previous times this happened, AGNC had nice rallies from their lows. Note also how present price action could also be forming a H&S pattern that has broke the neckline and appears price could be forming a hand suggesting lower prices are to come. IF lower prices do follow and MACD makes again another higher low, this could be a signal AGNC could come back up.
Comment:
Price remains below the neckline of the H&S pattern which suggest that lower prices could still be on the way. Note that MACD is still stronger than price and the target of the right shoulder was almost hit. I am still short term bearish and long term bullish.

For me to see the bullish move to happen, I would need to see price take out the neckline to the upside and would like to see the same line find support, then I would expect prices to move higher.

I have another chart showing channels but am not sure how to post the updated chart in the comments.
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