Yes I agree, that would be a valid expectation given AGY history of retracements after major moves.
The 61% level retrace from yesterdays big fall was todays high.
The counter move is back at $0.21.
So logically there is no reason that it wont have the same size in reverse which is back down at $0.21 - 0.215.
Remember who it was that pushed us down here yesterday.
The same mm's were buyers yesterday and probably took some profits today.
They wont be in a hurry to let the sp get back into the 30's unless we get the gas turned on.
I am not trading but if I was then $0.21- 215 would be a good spot to be sitting in the cue.
It may take a day or two to get there but it has a better than even chance imo.
AGY Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
