The recent breakout of AGL Energy Limited (AGK) provides a textbook example of a stock breaking from a symmetrical consolidation triangle. It’s worth an in-depth examination for stock traders interested in learning how breakouts function.

On 26 February, AGL Energy posted underlying profit for the second half of 2009 that surged by 22%. The company maintained its guidance for the fiscal year of 2010 on anticipation of steady revenue, raised the interim dividend from 26¢ fully franked to 29¢ fully franked, and reiterated its interest in NSW electricity assets as the privatisation process unfolds. Read More…