Well, such a nice day for AVZers
Good to see the flag plays out over here as predicted.
I have done some updates of the 15mins chart, it looks like we are forming another small bullish flag, similar to No.1 [similar size with similar MACD position]. Good to see the Vol picks up again towards the close. If history repeats, we might see another gap up tomorrow & aiming for 40c +?
View attachment 922667
Then what might happen next ? I zoom out a bit & drew a daily chart. I find this run looks quite similar with last time we broke 15c congested area. Even when RSI firstly shows 80, the SP stays in the similar relative position of the movement. So my take is we should still have approx 6-7c room to go before the next consolidation. So we might see 44-45c in next 2 weeks ? Below is the daily AVZ chart.
View attachment 922670
However, are we going to go through another 2-3 months consolidation afterwards ? I doubt that as we are going to receive constant news flow along the drilling in the next 3 months. So I ask myself if the 2 recent gaps are definitely going to be filled during consolidation? I then find an interesting chart to compare with - PLS.
In the blue area, the SP also gaped up twice however they never got filled which represents a clear strong stock in a bullish run. Look what the SP did after 2 gap ups, it rose another 70% from about 70c which translate to 62c+ to us. Below is the chart for comparison
View attachment 922673
So in summary, I think we shall see 40c+ in a week ,or even tomorrow
. Then in 3 months time along the drilling , we shall see 60c+, I think this target is close enough to reconcile with ML's recently lifted 70c target ?
Purely my own observation though
Hopefully it plays out as is & I admit I will be happy with 70c per share in 3 months. Have fund holders
