AVA chart

I did not see a chat thread here, so thought I will start one for anyone interested in the
the technical side of things.


AVA weekly chart shows a 3.5 year consolidation that has broken to the upside.
(It actually looks to me a lot like a complex version of a very rare pattern known
as a Compound Fulcrum more than a true Rectangle).
The daily chart shows an Ascending Triangle (some will prefer to call it a pennant
but I won't get into that here) consolidation with a solid breakout on volume.
I only picked up on AVA after the break and put in an order for a retest which
was luckily filled on Sep 4th on the market's high volatility day.
The measured minimum target for both patterns is circa 0.375.
I will take some profit at around that level if it gets there but will leave some in
for longer-term, since a breakout from such a long duration bottoming type
consolidation is often the beginning of a much more sustained uptrend.
I will however move stops up in accordance with price action.
Will watch for further developments and try and give more timely (this one
is bit late for an entry on the above basis) updates if there is any interest.

Thanks to all on the fundamental threads who helped me get a quick idea
of where the company is holding from that perspective.

Best of luck to all holders (and everyone else).