Been away for a couple of weeks and not read through most of these AVZ threads as it would take just as long to get through them
I do come from a charting background but these days a position I take in a stock is either on FA alone, TA alone or a combination. In the case of AVZ it was purely FA as I really did/do believe in the story
I still hold.
If I based my position on TA alone I would have exited at around 22 cents based on my chart below.
Here's my take on the chart. Yes, with the aid of hindsight to some extent. I would describe what has transpired as a combination of a bearish downtrend taking a life of its own, a weakening sentiment in the Lithium space, and a 'series of unfortunate events' occurring at the wrong time.
Price has now fallen far enough for me to no longer look for support (it becomes increasingly like guesswork) and any so called support levels in a downtrend are there to be broken. The bottom will form where it will and not because we think it should !
I hope my chart annotations make sense. A, B, C and D refer to the 4 highlighted areas.
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