AGY 8.00% 13.5¢ argosy minerals limited

Daily. Positives. Stoch 14 & its avg line are rising & have...

  1. 4,486 Posts.
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    Daily.
    Positives.
    Stoch 14 & its avg line are rising & have crossed through the 50 line.
    The sp continues to follow the regular rising s/t trend line.
    The sp closed at the high. 38% of the days volume was at the high and in the last hour of trade.
    MACD is rising (last 7 periods) & is above its sig line.
    Histogram is above zero & steady.
    Daily volume remains low with shorting activity peaking on Wed bar.

    Negatives.
    Stoch 5 has reversed direction from the overbought line & is pointing down.
    Fridays vol was relatively low & below the 5 day avg. (lowest daily for the week)

    Daily outlook. I expect to see a retest of last weeks high on the next bar & the potential for a test of the resistance at 0.079 – 08 during the week but without a catalyst (maybe something in the AGM) to drive the sp the current rerate will likely fail.
    Particularly with the recent & ongoing shorting activity & selling every time the sp attempts to rise. This is more than likely being done by or in tandem with a broker/mm.

    There is evidence that at least three entities holding in excess of 8 million shares & not listed on the top 20 shareholders list have spread their shares over multiple accounts to remain hidden from view. Why would that be I wonder.
    One of these has apparently sold some or all their heads.

    Resistance is 0.076 – 0.08. Support 0.063 – 0.067.


    Weekly.
    Positives
    Stoch 5 continues to rise after crossing above its sig line 4 weeks ago.
    MACD is rising & is almost back to its sig line
    Histogram is rising & very close to the zero line.
    I have a high alert signal (for a higher high than the last weekly close)
    Close in the top of the weekly range.

    Short term resistance is 0075 rising up to 0.086
    The closest support at 0.067 - 069 is more likely to be the more relevant & a good spot for an entry.
    L/T support remains lower down at 0.061 – 0.063.

    Weekly outlook
    A retest of last week’s high (0.076).
    If that is broken then the potential is there for a run up to 0.086 – 0.092.
    That seems unlikely without positive news but as the sp has been manipulated down, there is no reason why it cant go for a run if the mm thinks he has accumulated enough & wants a return before the end of June.

    Monthly.
    While the indicators are still negative looking, at this late stage of development the monthly charts is showing early signs of change imo.
    The main potentially positive sign imo is the very small bar (Low Spread) & high (rising) volume which is again imo buying support. It appears that despite the rising hig volume the mm is unable to push prices lower at this stage.
    I currently have a low alert sig on the monthly but expect the support at 061 – 063 to hold. A close at or above 0.073 will clear that signal.

    Accumulation.
    Last week saw the sp move higher into a new range (0.068 – 0.076) This range at the present time shows net selling of 76,877 shares small cost to pay to mark up the sp after accumulating 7,848,624 in the lower 0.061 – 0.069 range.
    Since the 30 April my estimate is that 63,624,991 shares have been accumulated at an avg price of $0.069. Of those 7,848,624 were accumulated at the lower price of $0.065. AGY Acc 24 May.jpg
    AGY Wkly May 24.png AGY 24 May.png
 
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Last
13.5¢
Change
0.010(8.00%)
Mkt cap ! $189.5M
Open High Low Value Volume
13.0¢ 14.0¢ 13.0¢ $582.3K 4.327M

Buyers (Bids)

No. Vol. Price($)
1 59222 13.5¢
 

Sellers (Offers)

Price($) Vol. No.
14.0¢ 355115 15
View Market Depth
Last trade - 16.10pm 28/03/2024 (20 minute delay) ?
Last
13.0¢
  Change
0.010 ( 2.20 %)
Open High Low Volume
13.3¢ 14.0¢ 13.0¢ 3859993
Last updated 15.59pm 28/03/2024 ?
AGY (ASX) Chart
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