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78.0¢ avz minerals limited

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4sighttrader

3,811 Posts.

511

07/06/18

14:13

Post #: 33565039
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Originally posted by avagadro ↑

Hitting stochastic oversold on the monthly chart as of today. First time it has done so since 2015.

Oversold on RSI and stochastic on the weekly chart and MFI bottoming out.

Oversold on RSI and stochastic on the daily chart and MFI also low.

Selling looks overdone, MFI is showing it as exhausted. It is a stochastic buy now.

Will be interesting to see what happens next. The gap down to the recent low is IMO likely to be filled back upwards.

Spinning top candle yesterday and technically a bullish engulfing today.

Watch for confirmation of the candle tomorrow and watch the volumes down to a granular level next few days. My gut feeling is we could see some big market action, if anything to create some more liquidity. There was a very suspicious amount of centre point x-trades today and some repetitive bot patterns (possible signalling).

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Avagadro

Interested in your thoughts of the rsi and stochastic now?

Also from a learning perspective I am wondering if you would be so kind to explain why you thought the selling looked done and the MFI exhausted?

I genuinely await with interest, as we learn more from what we interpret incorrectly than correctly.

Look forward to your reply.

AVZ Price at posting: 8.8¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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