2023 Charts, page-1303

Rightio Whipper-snappers, i've added some more clams to the holdings at 25c lets see how it fairs.

Lets have a look at the charts shall we?
Remember charts assist us by swinging probability in our favour if we interpret them correctly, it can never tell you what's definitely going to happen. But the more signs you add up that tell the same tale that probability really comes in handy.





Sorry that this chart is a bit "busy", let me explain it.

we had a Wave 1 up from ~5.1c to ~21.5c which retraced back to the .786 fibbonachi retracement level.
Then we had wave 3 up from ~8.6c to ~80.5c, with a retracement .786 set around 24c.

The significance of this, is that at current levels around the 24-25c mark is extremely significant support.
While the last wave also found support at the .786 retracement level, this helps the narrative of support at .786 retracement for this current falling wave.

Furthermore, some of the other indicators reveal signs of being heavily oversold:
1) MACD is the most 2nd most oversold its been in AGY recent history tracing back to 2017.
2) RSI is oversold below the 30 out of 100 mark.

With these signs on the chart can we guarantee things won't fall further? No.
But probability wise, there is a strong narrative that around this level is extremely strong support and we may not find any lower than this, for those looking for a bargain.

Lets pair that up with some fundamental analysis shall we?



around 220,000 yuan is the $30,000 USD / tonne mark.
This mark is significant because it's roughly the cost curve for lepidolite processors in China. (a form of lithium crystal / rock)
This means that when the spot price of lithium falls below 220,000 yuan, the lepidolite processors stop their work because it's no longer profitable, and a decent chunk of lithium supply to the market stops. Because the market needs lithium, the forces keeping it above 220,000 yuan are strong enough because it can't cope with having that supply cut off. We saw it go below 220,000 recently, before shooting back above it as evidence of that.

So the narrative is that it is likely (not impossible) that spot prices are at or near its long-term support and can't cause much more havoc on the Shareprice by falling.

Additionally, lithium producers who are well familiar with market forces have voiced confident expressions that lithium prices won't fall further from here from the rest of the year, and may even go higher.

With AGY there's been a lot of delays, but the thing i like about this stock is its more been about when not if. When you're risking money on the stock market i really dont mind that dilemma. I know my chickens will hatch i just gotta incubate them for god knows how long, but i'm extremely confident i'm not gonna lose those eggs, and i'll end up with x5-10 more chickens than i had before.

The evidence is on the table here guys.