AGY Daily 5 Apr Positives Stoch 5 is crossing the sig line to...

AGY Daily 5 Apr
Positives
Stoch 5 is crossing the sig line to the upside & is crossing back into the bullish zone above 50.

Stoch has crossed above the oversold line & is above the sig line
MACD is flat & narrowing to the sig line
Histogram is rising

Negatives
MACD is below its sig line
Histogram is below zero
Stoch is in the bearish zero below 50

Outlook
The inside gap at 12.5 – 13 finally closed in line with expectations which has resulted in the daily appearing weak but it still shows some positive signs.

Support remains at 13 for now.
A break of support would see the next support down around 11.5 – 12 tested but I am not expecting to see that.
Resistance remains around 14 & a break there would see the next resistance up around 15 initially then on up to 16.5.

Daily reported shorts remain low but probably having some influence & they are likely not being reported accurately as shown in the past.

Expectations are high

Weekly
Positives
MACD is above the sig line & rising
Histogram is above zero

Negatives
Stoch is trending down & has crossed into the bearish zone below 50
Histogram is trending down

Outlook
The sp remains in a very small & tight range. Volume is less than 34% of the 5 wk avg.
Wkly support is 12.5 – 13 & next down is around 11.5.
Resistance is 14 – 15 then on up around 18.
Reported shorts for the week were low at 645,246 & current open positions were 42,222,776 as at the 29 Mar. Net vol for the wk was -1,755,719 selling.
Nothing to do but wait to see what comes first, the permits or the project update.