Overanalysis of meaningless tea leaves.
This isn't going to rally into an uptrend based on TA. It's just not. It 100% will not happen.
If the lithium price was to strongly rally, sure, maybe AGY would follow. But in the short term pretty much everyone agrees that's not going to happen, medium term most agree that's not going to happen, longer term opinions are divided and if you want to wait several years good luck to you.
If you want to see AGY rally hard over and above 10c in the short term (this year) you need serious production improvement or something out there and unexpected. Another carrot dangle may get a little spike, some holder dumping or some individual making a strange decision to buy up big may cause a spike, but a trend reversal and sustained rally is going to need substantial production increase (or some crazy unexpected event).
You'll send yourself needlessly crazy analysing fibonacci levels etc on this chart at this time. TA definitely works, it's a valuable tool, but it doesn't cause a sustained reversal in a company with long term disappointing results in a sector out of favour.
If you want to analyse the AGY chart, the take home message is that it's absolutely hideous. It's not the popular story, but it's the actual reality. The main relevant thing to see on the AGY chart at this time is various support and resistance levels, and you can use these as predictive of good entry and exit points in the event of bullish and bearish scenarios - for example, if the next production update is bad, it can tell you how low we're likely to see it go, or if it's good, we can see various resistance levels which may be tested, and which ones are likely to be tested depend on how good or bad things look. Ignoring the fundamentals, the chart is outright horrible. To be holding right now in a company with a chart like that you'd have to have strong confidence in the fundamentals (or be high on hopium/desperation/ostrich syndrome). The lithium sector looks bad. To be holding now you'd basically have to be sure that the next progress update was going to be brilliant, or think there was some other unexpected good news about to hit.
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