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78.0¢ avz minerals limited

I don't have a problem with your bearish view, but I do have a...

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greenmetals

621 Posts.

168

03/02/18

17:30

Post #: 30796498
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Originally posted by andy20020 ↑

I mentioned Elliott Waves for AVZ a while back around 36c ... and a possible turn at 26c at the bottom of the first A leg down of a corrective A B C cycle.

It's turning out exactly to the textbook concept of Elliott Waves.

I suspect the small rally to 31 c was a dead cat bounce, that represented B up, now we go into C down probably to 20c or so ... the bear rally - B from 26 to 31c was always potentially a fast rally - so IMO ... unless news overtakes this ... we're going C down now I expect.

That's when I'll be rebuying. Perhaps a couple / three weeks for the C leg down.

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I don't have a problem with your bearish view, but I do have a problem with this phrase:

I suspect the small rally to 31 c was a dead cat bounce, that represented B up, now we go into C down probably to 20c or so ... the bear rally - B from 26 to 31c was always potentially a fast rally - so IMO ... unless news overtakes this ... we're going C down now I expect.

I call BS. With such a "TA" prediction you are always right. Because when news overtakes his you'll say: "But I told you that news could overtake this."

So next time please show us a chart and don't put the "unless news overtakes this"- phrase into your TA prediction.

AVZ Price at posting: 31.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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