AVZ chart, page-10030

Gday mate and fellow AVZ followers,

My apologies, I took an opportunity to go away with the family up north to Ledge point , Cervantes and on to Geraldton for a well deserved break from work and stock markets, I surfed, I fished, I ate, got pissed and did a fair bit of Elon Musk ( my hero ), more importantly Santa gave my portfolio another 20k nudge for being a smart boy, so whats not to love ?...............

Hoping everyone had a great Xmas / New Year courtesy of Gangfeng OT, altho I am still disappointed it wasnt a european player cause I badly want to show China the BIRD !!!

Lets get to business with AVZ weekly chart.

One of the things that was most attractive about investing in AVZ apart from the fundamentals was the lack of resistance once 7s , 10.5 and 12c resistance lines was breached, not much standing in AVZ way except minor resistance @ 15c ( red horizontal line ) all the way to the 50 fib ( 21.7c ), it appears that the combination of strong macro forces plus the Gangfeng OT has put AVZ into over drive and I certainly didnt predict it would defy gravity by that much and sail past the 38 fib (I took part profit ) , but what I have learnt from the previous BULL run back in 2017, expect the unexpected !

Tale of the tape for AVZ.

a) SP has blown the bollie out of the park...........................negative
b) STOCH maxed out............negative
c) RSI maxed out..................negative
d) MACD...........there is some juice left in that baby.................TICK

So can AVZ reach the 50 fib ?

Before I answer that question, lets look at the macro forces driving AVZ.

Tin has been a good friend for AVZ but its looking maxed and due for a breather, the red thumbs down tell the story/


Global X has been a good friend to AVZ too but it looks like it needs a breather too, dont like the look of that long red ( red arrow )

So , can AVZ reach the 50 fib ( 21.7 ) ?

Due to the fact we are in a BULL run and the MACD has room to move, then yes, it can be achieved but thats when the run will end IMO ,lots of mums and dads who bought in the 6s are sitting on 2 /3 bags like myself and must be getting itchy fingers to lock in profit, as mentioned before, I have already locked in a very tidy part profit @ 17c and will be holding the rest in case of another beautiful OT announcement, once AVZ settles a bit, then I will average up like I always do.

As usual, this is not financial advice, ALL IMO and DYOR

GLTAH and may 2021 be a BOOM WHOOSHKA year !!