Short Term Trading Week Starting: 30 Jan, page-361

thanks for the tag Mouse, sorry was at work then surf, just got to computer

AVQ cool find. has a history of massive spikes in v short time frame, without a long accumulation. so not what i normally look for... will do my best



daily:
resistance line at 19 doesn't have much volume involved so shouldn't be a big problem. also the most recent two lower lows ~19 and 15 don't have much volume so shouldn't bring out a lot of supply. i would think 23 first area with a bit of resistance but every time it's spiked in the past, it's done it completely disregarding key levels and just kicked ass. so maybe it will continue and who cares about resistance, similar as past occasions.
today's volume strongest in six months with good spread and closing on high, in shifty market conditions... so nothing to complain about there.





weekly:
three lower highs but still plenty of space to move up to ~26 if that line were still in play
very strong long term support around 14
horizontal resistance line around 34 that i forgot to draw




intra-day 10min chart:
high volume small spread (arrowed) was hinting at distribution but didn't retrace far, found no supply at 19.5 (blue rectangle) and closed end of day on high with strong volume again. i'm not day trader but would think that's bullish close.



if i was thinking entering I'd give myself a 65% chance of making it to 26. but that's winging it with nothing scientific, totally off top of my head.

maybe some of the other guys can give a better analysis.

cheers

I don't hold, but I'm guessing the main reason is that they have about $3m in the bank with estimated outflows this qtr of $2.9m. Fear of CR is a powerful thing.