AVZ (ASX) AVZ chart

Originally posted by setfire2thehive: ↑

Whilst there's a fair bit of emotive discussion on the other threads thought i'd inject an objection view based on the technical signatures.

View attachment 3205964

For me the main pattern is the descending wedge which will be the main trigger for a break down or up.
MACD is green but losing strength after the rejected of trend.
Stochastics haven't crossed bearish but close.
RSI is green but weakening.

All in all they're pretty neutral but would think it's short term softening.

View attachment 3205967
Weekly.
MACD bearish and still no signs of weakening (need the dark red candle)
Stochastics are into the oversold zone
RSI heading towards oversold and showing signs of softening.

All these indicators are currently bearish but look to be weakening.

IMV i think this tracks the descending wedge down until hitting the long term trend line towards end of the month start of next month. This would likely coincide with 14c double bottom test and bounce.
overhead targets would be 18-19.5c where it dropped out the bull trend.

If 14c or the trend line fails there's not much until 10.5c.

*disclosure long holder since 2017. would personally throw more capital at 10.5/11c as that would be fairly overdone.

As we all know a lot of news in the pipeline - along with a lot of really good news already but objectively and technical lens only - all of the above is the case IMO.

SF2TH

Expand

Nice balanced post as usual mate, love your work.

The way I am looking at the chart and following some nice fa announcements recently including today, i am fairly confident we wont be seeing 10c ever again .................unless that volcano spits some spew at AVZ headquarters....lol

Since double bottom 14, a good base build has been forming @ 15c and if the SP holds today, then we could be seeing a sub wave impulse 3 up forming which would we see SP pop out of the symmetrical triangle and challenge the resistance wall @ 18 - 20c.

I reckon distribution is over and accumulation is on.

Tale of the tape for AVZ

a) MACD has broken out

b) AO is showing good momentum

c) RSI 14 has broken out

d) 5 & 9 ema are flattening out and looking to cross 20sma.

All good signs that AVZ is on the rise.

Global X macro indicator looks to be reversing..............

SEZ, revised DFS , coming in the next 6 weeks, more OTs cant be far away , then the ML and BFS.

10c is toast, bring on the busting of the 18 - 20c resistance wall i say .

IMO

Not financial advice

GLTAH