Whats actually most important regarding charts is time scale.
1min, 15min, 1hr, 1 day, 1 week, etc etc each one can show a different story.
The long and short is that a weekly hold more ground than the daily, than the hourly etc etc.
So whilst these all might show cycles for most long/mid term investors i find the weekly and daily the best in terms of picking entries, top ups, profit taking etc.
Addittionally, one must also adapt timeframes to suit the stock. most asx 100 stocks are best picked using monthlys. micro caps, probably look to the hourly. So when using leading/lagged indicators it's best if those "buy' and "sell" triggers map up historically.
Regardless, heres the daily chart with pink lines showing the major lows on the daily. IMV these are my personal buy ranges.
View attachment 2614868
So if anything appears a short term bounce may be coming on avz. Retested 7.3c as support and held. It may look to test that level again for a double bottom play IMO.
Remaining impartial, here's the weekly. Which i admit is now showing the start of a bearish signal. That said, stochastics are above the midpoint and it doesn't have much momentum. in other words, if the daily bounce has some follow though it could turn the weekly nuetral or bullish again.
If the daily bounce fails, then the weekly signal strengthens.
View attachment 2614880
At my best guess short term retest support at 7.3c. Daily bounce to 8.4c.
If the daily bounce doesn't have much oomph, the weekly would singal next support at 6.7-6.8c Potentially it could coincide with a touch that red trend line.
*disclosure would buy at 6.7c/6.8c
for now still holding free-carried profits from 2017, plus a top up buy at 6.7c
