AGEN is still in a downtrend. Looking to the previous bounce it could be a retest of the long term resistance. If it can't break the level posted on chart (3$ - 3,25$) i'm expecting one more bearish move.
Moving Average indicator is applied to the Agenus Inc. (AGEN) chart. We can see the indicator acting as support line (green arrows), confirming the uptrend of chart, and also acting as resistance line (red arrows), confirming downtrend. When the chart cross the MA line, there is a change in trend.
AGENUS INC. (AGEN), Temporality 1M
An uptrend line is shown, followed by a double top, with two succesive peaks at the same resistence level (dotted short line), with a change in trend. A pullback is noticed after the pattern, but it doesn´t break the support level of pattern (large dotted line).
Volume is lighter on second peak, with a disminution or decrease...
As we see, the price has been going up, falling back, going up, falling back, going up and now its time to fall back. Once we see how the price falls a little, we need to keep an eye on this one!
I do think the price will go back to around 5-5.10 (we can see it always dropped to somewhere around the last high, just stood slightly above it) and then run up again....
AGEN is breaking through a lot os label of resistance. In longer therm its been declining from $10 & now getting some strength, and money flow is very strong now.
It has huge insider buying from another Biotechnology company. We think it has very good upside potential.
* Trade Criteria *
Date First Found- July 17, 2017
Pattern/Why- Flag formation momentum...