Not sure i am as bullish as old mates twitter chart. His bottom trend line would actually have broken downwards today at close.
View attachment 2946622stochastics cross downwards and more softening to come.
MACD has been bearish since Jan. Look for positive trends on the green/red lines when that roles over into -ve direction bearish and the yellow line you're longer term view.
18.5c first support next up would be the pink trend line.
View attachment 2946674Longer term view is interesting. Looks confused - much like me most of the time.
Stochastics have been pretty good considering and have really pulled back for quite some time.
MACD short term signal looks ever so bearish and nearing a cross.
If that was to eventuate i'm think again those lower support marker come into play. If we do see a pull back there's lots of support down to 15.5c. Don't want to see it go below this. Also don't think it will.
As has always been the case with AVZ it's only 1 announcement from catapulting itself upwards. This was what myself and other had suggested with an offtake agreement. The issue with avz seems to be the drawn out nature of timelines/expectations set on timeline by management.
The tin offtake would/will certainly be a positive step, but i don't see it materially re-rating, could certainly make it test highs again but i'm not 100% sold as i think like most people here its expected and therefore has probably kept the S/P afloat. a left field offtake for lithium on the other hand certainly would bode well.
Anyways for those new who don't recognise my name, long avz since 2017 free-carried profits and now enjoying the ride. I personally will invest more in the next weekly low cycle - my last buys were back when it traded at 6c. Lithium price heading in the right direction, mind boggling 100Y resource, just needs management to deliver on it. Retirement sort of stock if everything goes right.
SF2TH
