The monthly chart is a classic saucer bottom with an enduring trendline.
And , as they say, the trend is a trend until it isn't.
I'll quote Linda Raschke who quotes Charles Dow:
The majority of patterns or systems that have a demonstrable edge are based on one of these four enduring principles of price behavior.
Charles Dow was one of the first to touch on them in his writings.
Principle One: A Trend Has a Higher Probability of Continuation than Reversal.
What I like about the weekly below is the step-wise rise of the broken consolidation levels from A thru to D.
Please note these two charts are rolling periods.
The monthly would have its last bar with yesterday as its final date.
Ditto for the weekly.
AZY Chart, page-143
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1.1¢ |
Change
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Mkt cap ! $51.81M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 37 | 13457888 | 1.0¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 1.1¢ | 8150578 | 7 |
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| AZY (ASX) Chart |