Perhaps splitting hairs (doesn't harm to have a sensible debate?) ,but the way I read it..
Regarding the short term resistance, perhaps correct, but it needs to break some medium term resistance to get the ball rolling properly in my view. (thats around 3.2/3.3 - and we're close!)
On your short term pennant pattern , it would indicate that its 'broken out' at least 4 or 5 times in the last 5 or 6 weeks, so you would need to discount that line for a start as it's unreliable.
On your medium term, it's broken out once or twice , so that becomes a marginal, or at best a little unreliable in my view.
But I note, you've put a Resistance Line in as well,, which I'll be taking a little more notice of ..
For clarity ,, this includes today's data,, and I'm obviously looking at breakout above the resistance line , that holds, on decent volume...
A little Academic , perhaps,, as by the look of today's volume, although not 'done and dusted' it's looking quite promising.
I hope we both make money !!
AVL Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
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