I agree with all you’ve said and add that your insightful...

I agree with all you’ve said and add that your insightful comments are welcome, but a rarity on here.

Too many overlook that I’m willing to make a bullish call if the technicals show that to be the case, but are all to willing to condemn me for the bearish ones.

Investors should also note that technicals can change daily, so if anything, my absence on this forum during the recent long weekend should be excused and not be used as the basis for an attack over my recent sentiment change.

I remind investors that my Sentiment was changed to Buy from Sell on 4th Jan, due to a a number of factors:

1) Technically, the 100 day moving average (daily charts) was at 38 cents in early Dec, but due to share price stability in the 50s, increased to 42 cents early Jan. However, using a shorter term 25 day moving average (weekly charts) there is a base at 46 cents. I contend that yesterday’s high volume move up is recognition by traders and algorithms that a higher low has formed, plus the inability to breach those technicals levels above provide credence that the price will now steadily move higher.

Some positive future news will support this move.

2) Short interest plunged late December almost back to levels in early November, suggesting investors are now highly hesitant to bet against a rising share price. I was accused by one other poster of posting too late, except they intentionally conceal, that data on the Shortman website is always off by about 7 days. Thus I mentioned this update at first avail.

3) There is recognition that for whatever reason, news has a habit of leaking out of this company prior to an official asx announcement. Whilst technical factors played a huge role in the drop from the mid-60s to 49 cents, I also feel some traders already knew Hole 7 hadn’t met the exuberant and often irrational expectations of many on this forum. Further evidence for this claim is the jump in share price prior to the July 2020 announcement that Azure acquired interests in Creasy’s tenements. There are many, many more examples, but I’d need a hundred pages to run through them all, but yesterday’s massive jump on high volume with no news is noteworthy.

So where do we head now technically?

For this to be nothing more than bounce, and bullish momentum to truly resume, we should close above our opening level for a number of consecutive days. Five in a row would be nice.

Such a move will create a series of green candle sticks on Azure’s daily charts, and given the sea of red ones, this would be a positive change and noticeable by technical traders and algorithms alike.

I believe it could happen again today, but remember, this stock also needs some positive news to reinforce the upward momentum.

Should a bullish pattern be confirmed, 88 cents is plausible short term, based on Bollinger Bands (daily charts.)

Alternatively, bearish news could see a move back to 42 cents (100 day moving average.)

Note that none of these comments should be construed as financial advice. As always, DYOR prior to investing.

Good luck to all.