It been discussed that AGY is a slow and steady proposition ATM and some prefer it that way, while others are frustrated when looking at other Li stocks they watch or own. I got myself frustrated with my purchased timing a few times recently. I should have looked at the chart and waited, waited for a pullback within the current channel. So my frustration has been with my execution decision not AGY.
Today saw a test of the lower band of the channel and it will test it again tomorrow and may even break it and test the 50 day EMA. The important thing will be a close above the channel. If AGY does that it will have a crack at the downtrend from the previous 2 peaks at 47.5 by the 25th. That coincidentally is the day AKE/PLS report. These reports will make investors realise just how much money is being made by Li producers and who is the next producer... AGY, this which will occur withing about a month of this date. A week later we will have our monthly update and the market might get skittish about delays before the 1st of September and AGY might retest the bottom of the channel at about 42 which will be support by then. If the update is good and commissioning and production is on track then we will be off to test 51.5 and then ATH.
Not advice, just one in my opinion probably outcome. Good luck to all holders.
AGY Price at posting:
39.5¢ Sentiment: Buy Disclosure: Held
