Ainsworth Game Technology (AGI)

Discussion in 'Stocks & Derivatives' started by finicky, Aug 27, 2014.

  1. finicky

    finicky Well-Known Member Silver Stacker

    Joined:
    Jun 10, 2011
    Messages:
    3,543
    Likes Received:
    77
    Trophy Points:
    48
    Location:
    Dreamworld
    That daily bullish engulfing candle in June converted to a weekly engulfing a few days later. Now last week threw a massive bullish engulfing to bring the price back up to the seemingly significant $3 level. The weekly volume bar is the strongest since 2012, so if charting counts for anthing you'd have to say the picture is still promising for an eventual break. Final fy15 results will come in 4th week of August, but trading update has already been given in June.

    Disclosure: holds
     
  2. finicky

    finicky Well-Known Member Silver Stacker

    Joined:
    Jun 10, 2011
    Messages:
    3,543
    Likes Received:
    77
    Trophy Points:
    48
    Location:
    Dreamworld
    Ouch, not good. Chart was looking ok till this month.
    I have no explanation as I almost ignore the fundamentals these days. Still holding all my AGI shares.

    [​IMG]
     
  3. finicky

    finicky Well-Known Member Silver Stacker

    Joined:
    Jun 10, 2011
    Messages:
    3,543
    Likes Received:
    77
    Trophy Points:
    48
    Location:
    Dreamworld
    Just for continuity, chart was a sell after November months closing candle fell out of rising pattern on high volume. Still deteriorating in December. The chart could go anywhere now in my view.
    A long standing and informed forum commentator has gone uncharacteristically silent on AGI.
    Disclosure: holding, but dont know why.

    AGI 5 Year mthly
    [​IMG]
     
  4. finicky

    finicky Well-Known Member Silver Stacker

    Joined:
    Jun 10, 2011
    Messages:
    3,543
    Likes Received:
    77
    Trophy Points:
    48
    Location:
    Dreamworld
    Too much ... looks like a reprieve for shareholders. A gaming heavyweight wants to buy chairman and founder Len Ainsworth's shares for $2.75 ea.
    This would make Austrian company, Novomatic, a 53% majority holder in AGI, however Novomatic is undertaking to maintain AGI's listing on the ASX. Novomatic will provide technology and development assistance to AGI and expose AGI to a global distribution and marketing apparatus. The AGI board and executive will be retained, including Len Ainsworth as chair.

    At the same time AGI has announced its interim results which are quite poor, albeit maintaining the dividend.
     

Share This Page