AVZ 0.00% 78.0¢ avz minerals limited

My take on the AVZ chart (I bought recently and still hold)....

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    My take on the AVZ chart (I bought recently and still hold).

    Price: Long term trend up (tracking above 100 day MA). Will increase position if a solid break above 36c occurs with volume. Current stop loss set at 26.5c

    MACD: This is a slight concern with the divergence (shown by blue lines), which indicates a drop in price after the most recent peak at 36c. However, the retrace may be complete now since it hit its recent low of 26.5c. Let's hope so.

    Pattern: Symmetrical triangle playing out. Next few candles will be critical to indicate a break out in either direction. Since this pattern is generally a continuation pattern, a break to the upside would indicate its continued run up.

    Slow Stoch: Good news for the bulls...Seems to have bottomed out and about to turn up.

    RSI and ADM: No telling evidence of direction or momentum either way.

    I am aware of all the fundamentals and news and discussion on potential TO, Offtake, going into production, comparison to peers and sovereign risk, Tweets etc, but I have not considered this in the above analysis.

    AIMHO and DYOR - happy to hears others thoughts on charts.

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Currently unlisted public company.

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