Hi screwloose, I've had a look at the AON chart and some background info behind it. Personally it is not a chart that would attract my attention yet but that's only because my criteria is different and I recognise there are many methods and timeframes to make (and lose) money on the markets.
Having said that the chart suggests that the 10c mark is where the basement price is as the market is willing to support it whenever it returns to these levels. The fact that ARMCO recently stumped up +$4M for 20% of AON at 15c suggests that there could be value buying between 10-13c which is where it has been ranging since June. But because volume has been flat across the board it suggests to me that the market has little interest in the stock and will continue to plod along without clear direction.
A buy and hold strategy with some patience thrown is certainly required for AON. And one would only enter in anticipation of some announcement of significance to shake it out of the current range - and hopefully higher. Not the best looking chart I have seen and volatile too but that's probably because it is thinly traded. Good luck!
AON Price at posting:
11.0¢ Sentiment: None Disclosure: Not Held
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