AJX Charting, page-368

Agreed, been watching the weekly H&S emerging too, trying to ignore it. Pretty spectacular week - unusual for a share price to punch through the 20 and 50 MAs and come within a whisker of breaking the 200 day MA within one week.

Although it doesn't as clearly show in the daily, the intraday action on Friday broke through the 75/6 cent level and pulled back before recovering later in the day. Although it is early days and 75 /6 cents could be tested further, it is a good sign that support will likely form around this zone.

Being the long term bench mark, a break and close above the 200 day MA would bring AJX further into the orbit of the institutions. So it needs to get to and hold 80 cents, with the 200 day MA sitting a tad above 79 cents. Could attract the interest of more pros interested in buying into strength rather than weakness.

Daily COB May 27th