At this moment, AGYP is trading above 2 key lines of potential support:
- 20-Day Simple Moving Average
- 50-Day Simple Moving Average
Why is this important? When a profile trades above these 2 lines, traders may gain confidence from these levels holding as potential support for a continued vertical move.
MACD near zero line. The simplest strategy you can think of with MACD is trading when the MACD line crosses the zero line. When the MACD line crosses above zero, you buy.
RSI just broke above 50 (51.17). A movement above 50 indicates that more traders are buying the asset than selling, and are driving the price up.
BARCHART is reporting AGYP as a “BUY” based on overall technical indicators https://www.barchart.com/stocks/quotes/AGYP/overview
According to the OTC Markets, AGYP has 61.7M outstanding shares which 11.4M are restricted.
Why a low outstanding shares is that important? It’s important on one crucial level. Volatility.
With so few shares available for trading, potential driver indicators can send shares heading vertical in the short-term.
After the company has released 2 big press releases recently that could start generating some serious attention, this past champ could be on the verge of making another vertical surge.
Allied Energy Signs Binding Agreement and Acquires 80% Revenue Interest in Multiple Northern Texas Oil Wells https://www.otcmarkets.com/stock/AGYP/news/story?e&id=1844357
Allied Energy Forecasts Near Term Production At The New Byers Heirs Well Project https://www.otcmarkets.com/stock/AGYP/news/story?e&id=1809406
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