Australia's largest stock trading and investment forum Australia's #1 stock forum

AVZ

0.00%

78.0¢ avz minerals limited

resistant to close 30c gap, is due to strong fundamentals and...

First 2185 Last

Share
Profile

Follow
8horse

34,304 Posts.

8997

18/01/18

21:57

Post #: 30399738
Share

Originally posted by sydneyr ↑

Here's my interpretation of the chart. The major support line in green is at $0.29. The last 2 trading days resulted in a doji at $0.32 and today at $0.33. Doji is indecision but here, it could be a signal to the end of the red day that we saw on 16/1/18.

Positives - price stayed above $0.315 and despite common belief that it would close the gap, it did not. Today's doji is higher than yesterday's doji. Moving average 10 (blue line) is at $0.315. Higher high and higher lows still show uptrend.

I believe AVZ is going to trend whichever way the other lithium stocks are going for a few weeks.

Ichimoku still shows a bullish trend with 14/2/18 being the trigger for the Bull Senkou Span Cross. This should coincide with news.

Using Fib's projections, the next level to test is $0.35 with 50% at $0.40 and 100% projection at $0.49, close to the $0.50 price being thrown around here.

Simple interpretation; don't worry about the short term fluctuations and wait for news by mid February. Shareholders should be happy by then.

All in my own opinion.

View attachment 928101
View attachment 928102

View attachment 928116
View attachment 928117

Expand

resistant to close 30c gap, is due to strong fundamentals and heavy valuation discount, in my view, AVZ will run its own course in despite of lithium peers performance.

AVZ Price at posting: 33.0¢ Sentiment: Buy Disclosure: Held
34 Upvote

0 Great analysis

Reply