I like the thread owenb, good stuff. And some good contributions by others as well.
Thought I'd take a snapshot of the weekly chart that looks interesting.
Not my lines, they appear automatically on pro realtime.
Look at the two highest volume bars on the chart, not necessarily weak bars. Actually nice looking bars testing supply and closing well off the low of the bar showing good support. I'm surprised to see the price retrace below the lows of these bars and stay below for so long.
Interesting range now between 2.20 and 2.45, some considerable effort used up trying to push below 2.20 and so far has been absorbed by the Bulls of the copper futures.
Will be watching for a reaction if this third attempt that has happened in a 5 week cycle since dropping below the point that should have provided support. Will be interesting to watch the next 5 weeks and if the Bulls can push it back above 2.45, test and kick above the close of the two high volume bars in question at around 2.55.
Provided this happens, then watch for break of the trend.
Regarding AVB, I have always loved buying in the mid 5's and will be watching closely for some decent testing on this retrace.
AVB Price at posting:
5.7¢ Sentiment: None Disclosure: Not Held
