Technician
Short

AGO: Short Setup on a Double Top Formation

NYSE:AGO   ASSURED GUARANTY LTD
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Update: The trade is active now
Update: Target Hit

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The share is showing recovery, however the bullish rebound could provide an opportunity for another short.

-The price has tentatively broken the double top formation
-The price has tentatively broken the 52-week SMA
-The price has broken the ascending support for the rising wedge formation
-Heavy volume on downside breakouts
-Sustained bearish divergence on RSI

I will be short near 24.50, targeting 20.50 support level , with a stop daily closing above 26.25.

Best of Luck , join me at https://twitter.com/thefxchannel
Also at my Facebook page http://www.thefxchannel.com
My best regards,
Technician
Update: First Target Hit
+1 Reply
The trade is active now
+2 Reply
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