2018 Charting, page-30

Daily chart.
Positives:
So far we are still respecting the short term rising trend and successfully breached the resistance of the longer term rising trend (the old trigger line) after a not unexpected pause at the line. This should now become the support again as it was from Aug through to mid Nov. The breakthrough came on the back of rising volume. The vol had previously dropped off on the two prior days as the sp tested that line.
So in the short term and looking at the indicators a retracement should be expected. It may be that the previous high is hit or breached before that happens but it will happen.
The breakout target when we do, is currently $0.46- 0.51

Negatives: The stoch & MACD have both moved apart from their avgs which usually signals a slowdown & return to the avg line.
There is also the gaps below to consider although I an not expecting either the latest breakaway gap at $0.28 – 0.285 to close and the smaller inside gap on the 22/12 will also just become another statistic.
Do not forget also that AGY has a history of retracing 61% most often followed by 38% then 50%. A 61% retracement would at this time close the gap.
If the sp continues to make higher highs so to will the retracement levels rise and new support areas emerge.
A small retracement now to bring the indicators back would be better in the long run though I think.

Overall the daily is very bullish and a pause / small retracement now before breaking above the $0.355 will only serve to strengthen the next swing high when it comes.

The weekly.
Positives:
The rally exceeded my expectations by a big factor this week.
I was expecting a pause around $0.29 0.30 as that was the 61% return line but am not complaining as it broke through there so strongly.
Once the $0.35-355 level is broken the weekly target is around $0.51.
The stoch & MACD are both now positive

Negatives:
Most stocks pause at a resistance & after breaking through one and AGY has the same history so I am expecting to see a retest of the closest down trending line(blue one)which is down at $0.29-30. That will correspond to the 61 & 38% lines as well as the converging trend lines.
I see a bearish divergence atm (higher sp, lower indicator) that is not apparent on the daily.
There is still no update or new info to the warrant the sharp rise in price so I expect to see a retracement or dip in the next bar unless one materializes.
Any retracement will only be a technical thing though as we have clearly seen a re rating occur and if there is an update during the coming week it may not even happen.

Monthly.
Its too early to say much about the monthly other than doesn’t it look great!