Pretty good today bouncing off 10c support level strongly.
Took the chance to top up more.
After the morning panic sell off into 10.5c and then 10c AVZ soaked 25.1m at 11c which is great.
Finished the day on a Long Legged Doji which is a nice bullish signal, to make it even better it bounced off the 50 day moving average which is a very bullish signal.
AVZ has remained in a strong bullish uptrend since Feb, with the 50 day moving average continually respected, small dips under along the way but as one can see in the Chart below it's continued to push on.
Given strong fundamentals of AVZ, including the 1.2billion tonne 1.5%Li20, AVZ should maintain it's overall uptrend until what I expect in my opinion will be a takeover by end of year.
Next drilling campaign to start in Q4 which isn't far off with a few weeks to go.
AGM meeting will clean slate the company to be able to issue new shares, remember when Huayou won out the battle last time to be the single investor for 186m shares for $13.2m investment they beat another 8 interested parties. Clean slate gives AVZ the chance to issue more shares to another potential investor for increased funding, this has been mentioned by Airguide in their public tweets.
Chart sum up, bullish doji, bounce off 10c support, bounce off 50 day MA, continued uptrend still in progress overall, MACD now oversold, decent Volume churn.
See how tomorrow goes, still a bit of lose hands to maybe shake off, I expect some sideways movement between 10c-12c range rest of the week.
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