This chart is arguably one of the best I've seen which illustrates the power of technical analysis in real time. Each of the green & red candlesticks represents the open, high, low & close for the week but not only that they also display the actions of hundreds even thousands of individuals who have participated, either buying or selling. The yellow circle shows where the price couldn't break through before mid Jan 2021, then it did & rallied hard, retraced & found support which had been the previous resistance, then built a base to launch from into that incredible run up.
The old support (or demand) level came into play again in Feb last, successfully tested it then ran to 20 almost.This level is now being tested for the third time & we wait to see if those who made bank previously are willing to try & repeat the same trick. Volumes traded have fallen away on the three occasions this has happened, pink circles. My guess is that the area between the white lines will became an accumulation area & trade in a channel until further fundamental developments. But & there's always one, should the spot keep falling then all bets are off & the setup may fail. imo not advice. DYOR
AGY Price at posting:
8.6¢ Sentiment: Hold Disclosure: Not Held
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