Looking through charts for a positive story, I noticed immune-oncology company Agenus (AGEN), a low-priced name that is looking better on the charts.
In this daily chart of AGEN, above, we can see the bottoming process begin in December. Dips under and to $3 have been bought. The On-Balance-Volume (OBV) line has been improving slightly. Prices are above the 50-day moving average line and testing the 200-day line. Because these two averages are close to each other, we could see a bullish golden cross in the days or weeks ahead. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line and supportive. A close above $5 for AGEN would be a bullish signal and could start a rally to $7 and higher.
In this weekly chart of AGEN it looks like we should soon see a close above the 40-week moving average line. The weekly OBV line looks like it has turned up from February. The MACD oscillator generated a cover-shorts buy signal in February but it is below the zero line on this weekly timeframe. The MACD is pointed up toward that threshold and an outright buy signal could happen soon.