AGY

13.6%

9.2¢ argosy minerals limited

Love your charting analysis @seagull and always consider your...

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Robbo76

258 Posts.

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16/10/22

12:29

Post #: 64221179
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Originally posted by seagull: ↑

Positive aspects.
Histogram is rising & showing a divergence
Stoch 5 is above the sig line & rising through the O/S line (20)
Stoch 14 is above the sig line & rising

Negative aspects
Stoch 14 is in the oversold area
Stoch 5 is in the bearish zone below 50
MACD is below its sig line & trending down

Outlook
The daily volumes have been largely net selling totalling -3,292,605 last week but removing the daily short trades, that number reduces significantly to less than 1 mill net selling.

The daily chart however is showing considerable resistance at 48 largely attributed to the shorter’s efforts imo.
Given the very large number of Loaned / Borrowed shares by the shorter’s and the highly volatile O/S markets I expect that resistance to remain & the sp to come under pressure to force the sp down potentially to around 41 – 44.
That downside target / expectation is also reflected in the weekly charts.

If on the other hand, the early signs of change by the daily indicators are going to continue then there may be a counter rally back to the next resistance up around 52.5 – 53.5 where there is a bearish FVG

Weekly
The weekly indicators are still all pointing down but support still appears to be holding at the 38% line around 47.5 – 48.
A good sign maybe, is that volume continues to dry up & the weekly net selling numbers around 3 million are 1/5 of the amount when the selling started back on the last week of Sept.

The fair value gap is still open though & covers the 41.5 – 46 area which is in the vicinity of the 50% retracement line.
I still believe that this is a likely downside target.
Below that we have the 61% level around 39 is also a likely & regular area to retest over the coming weeks.

An upside rally could take the sp to the next resistance at 51.5 – 52 but the shorter’s seem to be in control just now & have not borrowed 45 million shares just to wallpaper the lunch room, so my expectations are for the sell pressure to continue & eventually fill that gap.
There has been some decrease in the open short positions & as of last Mon these are down to 2,401,074
The weekly reported shorts up to Thu were 45% of the weekly net sell vol.

Meanwhile the commissioning of the 2kt pa plant continues.
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Love your charting analysis @seagull and always consider your latest analysis of this stock before I commit to any buying or selling of AGY!

I particularly enjoyed this comment, this week...but the shorter’s seem to be in control just now & have not borrowed 45 million shares just to wallpaper the lunch room

I believe you might have a promising comedic career if you ever tire of being a chartist! Til then, keep your TOP SHELF analysis coming!

Many Thanks and Best Wishes!
Robbo

Last edited by Robbo76: 16/10/22

AGY Price at posting: 47.5¢ Sentiment: Hold Disclosure: Held
20 Upvote

1 Great analysis

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(20min delay)
Last 9.2¢		Change 0.011(13.6%)		Mkt cap ! $133.9M

Open	High	Low	Value	Volume
8.4¢	9.6¢	8.3¢	$761.7K	8.626M

Buyers (Bids)

No.	Vol.	Price($)
1	14047	9.2¢

Sellers (Offers)

Price($)	Vol.	No.
9.4¢	10000	1

View Market Depth

No.	Vol.	Price($)
1	14047	0.092
2	60000	0.091
1	9034	0.090
2	111235	0.089
1	7500	0.087

Price($)	Vol.	No.
0.094	10000	1
0.095	153809	2
0.096	20000	1
0.097	50000	1
0.099	500000	1

Last trade - 16.10pm 28/06/2024 (20 minute delay)

AGY (ASX) Chart

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