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American Capital Agency Corp. Message Board

  • jimriesenberg jimriesenberg Nov 14, 2011 1:45 PM Flag

    Price Target with Expalinations

    We have a declining upper trend line with the following dates and prices:
    6-8 $30.74, 7-7 $30.34, 8-17 $29.99 and 9-16 $29.90

    Fib 61.8% retracement is $27.42 using the high of $30.74 and low of $22.03

    Moving average trio is in alignment but twisting as if in the accumulation stage.

    Pennant Pattern has established itself just below the upper trend line. The slope is somewhat neutral and the converging trend lines are holding price within this tight zone. Apex appears to form at or about 11.21.11

    Target: $29.25 to $29.66

    Determined by applying the difference of the resistance break which became support at $27.42 (also the 61.8% Fib retracement) to the height of the pennant $28.90 = $1.48. From the apex of the pennant on 11.21 of $28.18 which is a guess and adding the $1.48 flagpole we get a target of $29.66. My only problem with $29.66 is that the declining trend line tops out at $29.25 and is acting as major resistance!

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AGNC
19.61+0.03(+0.15%)11:22 AMEDT