I am not one of those "technical, chart analysis type of investors"; however, even from that point of view, all points indicate that AGN is poised for a serious break-out at some point in the last part of this year. Most analysts seem to agree that the stock has been terribly oversold since May -- this; despite a good second quarter report.
Once the "shorts and unconvicted folks" are tempered, all bets will be off on a run-up, perhaps, to $100+ by the end of 2012. Historically, AGN's third and fourth quarters are usually their strongest.
I've been adding to my position -- like you -- from $83 to $88.
Well, now we have moved along for a few weeks. We can see the gentle rise ongoing, other than yesterday's spike on the ISM news. So, I like that it is working its way slowly higher. I did
reduce some of my buy ins from before, and now watching carefully how this may move up and maybe finally reach a break out scenario.
It is stalls, then, yeah, need to reduce and wait for more clues and signals on direction. I just feel however over a long time haul, there will be new highs, getting up past $96. $100 is not out of the question, but, that can be a wait to reach, which is okay with me anyway.