2023 Charts, page-1323

Hello. Some great charts here, even by Pierre and I like that monthly MACD, Jez. Simple but effective when looking for entries and exits at that time frame. Lots to take from that for long term holders of any stock IMO, worry less about the daily charts and more about the monthly.

I will post an updated LIT ETF tomorrow after the end of the week as the coming session will be important.

AGY has gone from bad to worse over the last month. I doubt anyone here thought AGY's market cap would be in the $300m range at this point in time 1 year ago but this goes to show the opportunity presented by the market all the time.

I have made some bad calls here, getting a bit ahead of myself with the speculative wave count which has since been invalidated. My current count shows a pretty clear zigzag down from 80.5c in which wave C has surpassed 61.8% (28.43c) of wave A and moved to a low of around 75% of wA (22.5c). I am looking for signs of reversal here but keeping in mind that the most common wC length is equal to wA which would bring the price to 12c. While that may seem ridiculous, 28c seemed ridiculous to me a month ago and it cannot be ruled out until a trend change has been confirmed. The only positive to come from the current sharp and deep correction is that, when complete, the next 5 waves up should be red hot.

AGY Daily


I have included the weekly chart going back to the start of 2016. Here on the weekly you can see the current ABC correction clearly without the internal structure. Further to the RSI analysis on the daily by Jez, I've also highlighted the RSI here, which has only moved below 30 and into the oversold territory on 2 occasions prior to this one, both times AGY was in a correction and both times it resulted in significant gains within 3 months (if you sold at the top of the bounce) the second time was during the covid crash and was the start of the wave sequence from 2.6c to 80.5c over a 3 year period. AGY is also trading outside the lower Bollinger band on this weekly chart at the moment which is quite unusual and usually results into a return to the median line which is currently around 40c.

Agy Weekly