General Discussion AGY, page-11270

Wherever we bounced, we were always going to bounce since we have clearly fallen well and truly into the oversold region. Once the pennant failure was confirmed we were definitely going to go low and it was just a question of how low. Unfortunately I put used up almost all my dry powder topping up at an average of around 60c before the pennant failed, put in a bit more than I could comfortably manage in the low 50s just before Xmas, hoping it would bounce off 52c (52.5c being close enough) and now we've tested 49c support (49.5c is close enough).

It's very funny the way these things go, if the pennant had broken out instead of down we'd be in the 70s by now, laughing and cheering, but it broke down so we visited the 40s, even if briefly. The big picture hasn't changed at all though, where we'll be in a few months isn't changed by the recent pennant. Once the short covering rally starts and we see the next leg up confirm, we're going to have a great run. Perhaps our bounce from 49.5c to 52c this morning is the start (the 52c queue is being bought out as I type this) or perhaps we'll founder around until we reopen next week and start the new trading year, but whether it's 49.5c or it does manage to test 46c before the bounce back up, this apparent doom and gloom is just going to be another one of those dips which has shown up every month or two on the chart in 2022, along a very clear upwards trend.