AGY

4.17%

12.5¢ argosy minerals limited

Very detailed T/A there Seagull keep up the good work in 2020 ....

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h00ts

46,477 Posts.

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02/01/20

15:35

Post #: 42196624
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Originally posted by seagull ↑

Happy new year to all.
Time for a new chart thread.

Monthly
At the end of the month and year the chart shows a small pullback & test of the support around 0.072 – 073.
With continuing support/accumulation from the Global X fund plus the permit approvals expected at anytime, the next move is likely to be up & should see a breaking out of the 10 month sideways consolidation.

It appears (from the ASX shorts reporting data) that there has been a considerable amount of shorting going on during the last two months which is probably related to the activities of the fund accumulating. This is likely to continue until they either have their fill or the permits are approved.
Any attempts to push the sp down should be understood to be part of the accumulation process & not a change in the fundamentals or the promise that those bring.

One assumes that the Global X fund is smarter than those who are prepared to sell to them.
Short term resistance is from 0.087 - 0.105 & the next area from 0.13 – 0.15

The Histogram continues to rise & the MACD continues to fall continuing the divergence.
Volume also decreased & was less than a half of the previous two months bars showing that sellers have virtually dried up at these prices.

My system shows an alert indicating a lower low than the last close & so I would expect to see the last low retested (& hold) before we move up. I doubt that it will draw out much volume if it eventuates.

For the rest of the week……
Weekly.
The large flag/triangle is still intact
The MACD is above its sig line
Histogram is above zero
Stoch 5 is above the oversold line & its sig line
Volume remains low
Continues to make higher lows.

As the weekly is still building we could see a retest of the prev low at 0.075.

I think that the weekly chart is quite bullish though & would not be surprised to see a close up or above 0.08 this week.

Daily.
Closed at the low on the last bar & the MACD & Histogram are still trending down while the S/T stoch 5 has turned up & crossed back above the signal & oversold lines.
Will possibly retest 0.075 again but I don’t see much downside & expect to see a higher sp come the close at the end of the week.
Daily support 0.075 – 0.076
Resistance in the short term 0.08 – 0.085

Everyone & his dog now knows that the future of AGY is bright & any thought of selling now is very poor judgement indeed.

Good luck to all for the coming year.
SG
View attachment 1913824 View attachment 1913827 View attachment 1913830

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Very detailed T/A there Seagull keep up the good work in 2020 .

For those not so well versed in charting I find the Heiken charts give a clear visual picture by removing the noise with blended candles

My two bobs worth - the bottom is in at 6.5c first target is to get above the upper resistance line at 9c then 10.5c - and then to hold above the long term downtrend line - Of some concern is the rally's are getting smaller as highlighted with the larger circles - Hopefully 2020 is a better year for the battery metal sector.

Last edited by h00ts: 02/01/20

AGY Price at posting: 7.8¢ Sentiment: None Disclosure: Not Held
27 Upvote

7 Great analysis

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(20min delay)
Last 12.5¢		Change 0.005(4.17%)		Mkt cap ! $175.5M

Open	High	Low	Value	Volume
12.5¢	13.5¢	12.3¢	$412.2K	3.252M

Buyers (Bids)

No.	Vol.	Price($)
36	1674606	12.0¢

Sellers (Offers)

Price($)	Vol.	No.
13.0¢	621061	7

View Market Depth

No.	Vol.	Price($)
33	1582543	0.120
13	735847	0.115
12	627728	0.110
11	793675	0.105
21	1493797	0.100

Price($)	Vol.	No.
0.130	621061	7
0.135	524554	16
0.140	969072	11
0.145	470428	8
0.150	631681	16

Last trade - 16.10pm 10/05/2024 (20 minute delay)


Last 12.5¢		Change 0.005 ( 4.17 %)
Open	High	Low	Volume
12.5¢	13.5¢	12.3¢	1126526
Last updated 15.59pm 10/05/2024 ?

AGY (ASX) Chart

Very detailed T/A there Seagull keep up the good work in 2020 ....

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Very detailed T/A there Seagull keep up the good work in 2020 ....

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