AZL General Discussion, page-7814

Still in the zone on a decline day

Yes we stayed in 17-20c zone for another day where stocks were in decline. We finished half cent lower to finish on 17c. Our volume was very low, just over 18m shares traded.

ASX Li stocks started May in decline. Of the 31 stocks I track, average decline today was between 3 and 4%.

It was good to stay within our trading zone of 17 to 20c on a day when asx and Li stocks were in decline. This was our third week that we are in this zone. Its good to hold this coming on the back of a bad April, and especially the last two weeks. Our volume was very low today, in fact, it was the lowest volume in over 6 weeks. It shows that not many want to sell at this zone even if asx/Li sector is in softness. This will bode very well when the reversal comes.

What next - As I wrote in the weekly report, I am expecting a good May. But today's destiny was already set on Friday with big dow decline. So today's trading was as expected. Hence, it was good to hold the zone on a decline day. If things have to turn around, we should see that in couple of days. Till then we need to hold strong. The reversal should come along with good Li days, hopefully. All the best.