From a chart perspective, its been an interesting week, albeit,...

From a chart perspective, its been an interesting week, albeit, very positive. The dragonfly doji signalling a trend reversal from down to up (i.e. Bullish abandoned baby). Despite the talk of gaps being filled, there is a good chance this is a runaway gap with upcoming drill results being announced.

The Global X Lithium ETF finished 3.9% down overnight along with a drop in US markets, so will be interesting to see how ASX opens on Monday.

Looking at the chart, the outlook looks even better than the last couple of weeks (based on daily):

Moving averages: No issue here. Overall trend is up/positive with prices above both the 100 and 21 day EMA.

MACD: Above the 0 line with a crossover coming up. There was a technical divergence showing, but we have dropped since and hence ridden this dip out, which is good news. Bullish.

DMI: DMI+ crossing over DMI-. Momentum appears to be bottoming out, meaning bulls will take charge at an accelerated pace. Bullish.

Slow Stoch: Crossover has just occurred. Bullish.

Awesome Oscillator: Last green bar is very bullish as it shows a double peak in formation. Bullish.

Hard to fault the chart really and AVZ as a whole. Looking very positive with all planets aligning, which is supported by the strong fundamentals.

Bodhi_Trader