Black shaded area is pointing to what i beleve is a bearish abandoned baby pattern, this is characterised by a doji candle which gaps up after a previous long green candle and the pattern is bearish by nature.............held up well today i might add..........
SP has blown the upper trend line of the channel by some way, that and the upper bollie band too, you can see that SP started to wane ( wicks ) after it briefly broke the 1.618 resistance line, the question is, is there enuff juice in those indicators to take SP any further ?
Weekly and daily chart are all in over bought conditions , what in the way of FA could suddenly pop soonish to momentarily delay sub wave 4 down ?
Bullish markets can move stocks a fair way in over bought conditions i am beginning to learn, LTR is prime example.........so not prepared to make a definitive call just yet, just highlighting obvious red flags appearing when a stock has had a good run from 24.5c...........
Need to be realistic here.............AVZ is due for a rest , but happy to be wrong at the same time.
Mr Market will have the final say............didnt pick the ASX dropping its dacks by another 100 today, thats for sure...........
Interesting times.
imo of course
No financial advice here
DYOR
