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78.0¢ avz minerals limited

One last shake before the good news week, nice try though hope...

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Mcsticky

83 Posts.

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27/04/18

21:06

Post #: 32733232
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One last shake before the good news week, nice try though hope you can't get back in.

Originally posted by Stage-2-Uptrend ↑

The AVZ chart has recently displayed lower highs and lower lows. In contrast to the period from circa mid 2017 to mid February, 2018, where the shorter-term moving averages were almost always above rising longer-term moving averages, the situation now is the opposite. The longer-term moving averages first compressed around mid March, 2018. Subsequently the shorter-term moving averages were below declining longer-term moving averages. The current deteriorating technical chart combined with multiple trading halts, and suspension from quotation notifications, was sufficient weight of evidence for me to exit.

AVZ seems to hammering away at $0.21. As Hoots mentioned, a break below this area would be ominous. Chart analysis supports this scenario as the more likely outcome. Stop losses, sensible position size, and general money management are the most important components of capital preservation when trading an extremely speculative stock like AVZ.

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AVZ Price at posting: 21.5¢ Sentiment: Hold Disclosure: Held
12 Upvote

0 Great analysis

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