2023 Charts, page-1304

Thanks for your chart. 50 upvotes and 16 great analysis... I guess having an optimistic outlook on the chart plays well with the spectators (even though there's nothing optimistic about AGY's chart). But, I'd have to disagree with your analysis RE the fibs. It's easy to draw the fibs to suit what you want to see, which is what you've done with your "wave 3" (~8.6c to ~80.5c).

I've posted the proper way to use Fibonacci retracements, because that's what they're used for, a tool to see the possible retracement levels between the recent high and low. First image, blue lines are where fib retracements could have been used.

You've taken the low, and gone all the way to the high (8.6c - 80.5c), because it fits the narrative to have retraced 78.6% of that range (which makes it look like this is OK).

Once price has broken out past the retracement fib levels and created a new trend - which has happened with AGY - you would normally draw fib retracements from high to low, in an attempt to find the pull back level before new lows being created. Not the other way around. Example in my second image where it pulled back to the 38.2% almost exactly before new lows.

The upside is no where near being confirmed yet. Therefore fib retracement cannot be used to determine approximate "pull back" levels when trying to find a bottom in AGY's case.

Also I've made my opinion clear on MACD, RSI etc. They pretty much don't mean a thing as they're just lagging indicators which follow price (as is all overbought/oversold indicators). We can see those oversold levels don't hold any merit, shown in my third image courtesy of yourself.

I called 25c this week yesterday. Happened very quickly. Another gap down today, up to fill, and more downward pressure throughout the day. Closed as a doji candle - tells me indecisiveness at this price. Not bad, not good, just neutral. 23c still very much in play this/next week.

I would like to think the bottom has to be close by (low 20's) for it to stall for a bit until we get some news... I would be quite disappointed to see under 20c. But that's pure speculation and until something material is announced who knows what Mr.Market will decide.

IMO and DYOR (not saying AGYTTM anymore, I could be jinxing it).