Well to change the the topic to technicals for a moment I think we have an interesting chart right now.
Since the bottom on the 28th Oct you could argue that a short term ascending triangle has formed...with a top of 13.5c (touched 4 times). This indicates to me that we have upwards presure by buyers and less sellers willing to come down as trades are getting forced into and increasingly smaller and higher range.
If this pattern of behavior continues the pressure will build to the point where it forces the price above the 13.5 barrier (usually in a quick sharp move). The reason for the quick move is that a large group of potential buyers suddenly realise that the are now not going to get the sub resistance area price they want (in this case less than 13.5c) and so rush in to not miss out.
On a wider view I think a break and close above 13.5c could be seen to be V.bullish indicator in the short term.
Just my opinion ...But as always time will tell.
Anyone else got a tech view ...
- Forums
- ASX - By Stock
- AVB
- technical opinions - asc triange?
technical opinions - asc triange?
-
- There are more pages in this discussion • 35 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add AVB (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
HAR
HARANGA RESOURCES LIMITED.
Peter Batten, MD
Peter Batten
MD
Previous Video
Next Video
SPONSORED BY The Market Online