Wow. And wow again. What a day its been. Well I am happy to be...

Wow. And wow again. What a day its been.

Well I am happy to be wrong yet again in when we would get the retracement but I am still confident that we will get one. (Eventually)

I agree that this appears to be a textbook breakaway gap & potentially may not to fill.
Most of the successful companies have these types of gaps way back in their chart history that will never fill.
AGY has the potential now to join that group and be one of the top Lithium producers on the ASX & based on how the company is building itself I will be very surprised if there are not a few of these gaps in the chart over the next year or two.

However if this is just a common gap & it does fill & we get a normal AGY retracement then this is how it could play out.
At this stage and based on todays high & the low on the 24 March the retracement target of 61% has now risen to $0.05 and a 50% retracement to $0.056 - 057 would be sufficient to close the gap while respecting the trend lines.
If this is a breakaway gap we should not be surprised to see todays open ($0.062) be tested at least once before we continue rising.

The stoch is still showing signs of an impending retracement but as the sp has risen substantially since moving into the overbought area the sp will not necessarily have to retrace as far to bring the indicator back into a more stable level. The indicator can stay in the overbought area for long periods before moving back down.

The expectation of more updates in the next two weeks will be high  (The company states that they will begin pumping brine next week) and therefore I am guessing that the sp would have a consolidation phase for the next week possibly two.
Also “The MOU parties are currently conducting their due diligence process and reviewing the data room established for this purpose. The MOU parties have expressed a desire to progress this as quickly as possible.”

This expectation may be all that is needed for the sp to not retrace much & that gap to never fill.

How many more hints do we need?

Its time to sit back, hold on & let the traders do their thing but I believe that it is far two dangerous now to be out and waiting for a cheaper re-etry point.