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06/08/21

14:11

Post #: 55087824
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Originally posted by Freehold: ↑

Ok We have seen some consolidation 20-21 in the last couple of days as expected. This was needed as mini platform of support was required from which to launch attacks on the prev 12mth high of 23.5. I have minor expectation for today of a Close @ or Above 21c. Although, I like to understate my expectations generally.

Didn't see the big line wipe of the sell side @ 21 (as I wasn't watching closely) so sounds like it was a strong move. So perhaps I have underestimated the enthusiasm for Lithium stocks & AVZ generally right now. I see we are making our 1st attempt on 22c today, there will be more and stronger moves ahead I suspect assuming this one is unsuccessful.

Expecting several attempts here on the prev 12mth High of 23.5c over the next few days. When repulsed price will revisit support @ 21c before a breather and then ricocheting back up to to retest high again.

If we are going to break to new high without an Ann then now is a really good time with massive +ive sentiment in the lithium sector nearly and all our ASX peers breaking to new highs, most with no stock specific news catalyst other than the general lithium price rise and surrounding +ive sector sentiment.

Personally I don't think we necessarily have to wait for an Ann for a break to new high to occur in a sector as bullish as this. I reckon we will break to a new high soon... without a any big Anns being released.

PS: Just remember that every attempt to go to new high weakens the resistance (stale and disillusioned holders get swallowed are are less numerous) above.

An alternative outcome and one which I have seen many times is when a big buyer(s) rush a resistance point to push to new high before sellers can react. So not discounting that either.

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Starting to see nibbles into $0.220 with big build up of bids at $0.215.

Could this be one of the Friday afternoon FOMO that “Q” is fond of?

AVZ Price at posting: 22.0¢ Sentiment: None Disclosure: Held
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Running discussion on SP, page-49207

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