AVZ 0.00% 78.0¢ avz minerals limited

AVZ chart, page-1749

  1. 26 Posts.
    lightbulb Created with Sketch. 26
    As requested I will copy this post here as to avoid being lost in the thread.

    This should be the end of the downtrend in AVZ. The retracement back to 0.25 was a clear movement that was evidently seen by many technical analysts.
    1. The bearish three-line strike (2 Nov - 7 Nov)
    (https://hitandruncandlesticks.com/bearish-three-line-strike/)
    2. The Dark cloud cover (7 Nov - 8 Nov)
    https://www.investopedia.com/terms/d/darkcloud.asp
    3. Calculated 0.25 retracement using Fibonacci
    http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:fibonacci_retracemen



    HOWEVER: It is evident that this is the point of reversal.
    1. The support at 0.25 matches with the fibonacci 23.6% retracement level.
    2. Stochastic returning to a level of 56 (Previous turning point)
    3. The hammer candle appearing at the close of today's trade. (Needs confirmation tomorrow)
    https://www.investopedia.com/terms/h/hammer.asp

    At this point, I believe that many technical traders will now enter into a long position and trade the rise that is yet to come.
    As a holder of the stock, I was reluctant to post this a week ago as I didn't want to cause downward pressure on the share price, however now in my opinion, a clear reversal of the price is the next move.
    All IMO and as always DYOR.
    GLTAH
 
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