Short Term Trading Week Starting: 6 Feb, page-201

STTCOMP AGY, TA Long

AGY – Argosy Minerals - lithium brine in Argentina, Wee MacGregor copper-gold-cobalt in Qld.

Also lithium in Tassie, graphite in Namibia.

SP = 3.1c
SOI = 744.8 m
MC = $23m
Cash = $2.77m (to Dec 31)

Chart shows a long term ascending triangle.

I’m expecting some retrace now in anticipation that another tighter cup will form into the apex.

This could give an opportunity to enter at 2.8c before a run up thru resistance at 3.6c (+28%) to my initial target of 4.2c (+50%).

To add some FA colour to this TA:

* Airguide International (Michael Langford) has been appointed as strategic adviser to find commercial partners in China. Remuneration is incentive based (up to 20m options exercisable at 4.5c). Michael Langford is an associate of Brendan Borg (both directors of Minemark).

* In October last year the company raised $3m at 3c from cornerstone investors, at a premium to the prevailing SP of 2.3c.  Those investors will want to see the SP go much higher than 3c.

* Patersons have initiated research coverage.

(I'm sneaking in this tip before @gtrade has the same idea )