Argan: Assessing If Strong Potential Can Be Realized

Sep. 08, 2022 10:42 AM ETArgan, Inc. (AGX) StockAGX4 Comments
Individual Trader
17.85K Followers

Summary

  • Argan remains profitable from a reported earnings standpoint but not on a cash basis.
  • The market is still not rewarding the stock for new projects such as multiple power projects in Ireland.
  • Bulls are expecting long-term support to hold here if indeed the $30 level gets tested.

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Intro

If we pull up a chart of Argan, Inc. (NYSE:AGX) (Engineering & Construction Player), we can see that shares now look likely that they will test underside support in this latest downswing. Momentum remains clearly to the downside with shares continuing

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