AVZ chart, page-3172

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Freehold

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20/04/18

12:41

Post #: 32584564
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Originally posted by andy20020 ↑

Great chart Freehold ... LIT currently stalled at the 50% Fib retrace level and AVZ bounced to top of the trending (bullish?) triangle ... watching for a break today.

I'm not certain there's any validity in your yellow-green line on that chart as the position of LIT price versus the MA's is exactly the same as the previous two rallies in this down-trend before the correction continued. So I expect confirmation is needed to call the down-trend broken.

My greatest issue with the AVZ chart is it hasn't made the traditional ABC Elliott Wave retrace pattern at any stage in this recoil ... so the recoil isn't valid ... it's just a down-trend that could continue ... the fact that PLS mimics AVZ confirms the rally is commodity based and nothing else.

Just goes to show how much hot air on HotCopper and, as you say, how important the big players are.

But what it does also prove is that there's nothing special about AVZ!

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I don't know of anyone who uses Elliot wave theory or any serious traders anyway ... Except one guy who abandoned using after 15 years and was annoyed he wasted all that time. I spent about 2 years attempting to see some predictive value in it but found it was too subjective and open to interpretationa and personal bias. But each to their own I guess. Good luck with it.

AVZ Price at posting: 22.3¢ Sentiment: Buy Disclosure: Held
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