Spotted something potentially brewing on the daily. Very...

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setfire2thehive

3,908 Posts.

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11/08/19

08:41

Post #: 39953641
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Originally posted by setfire2thehive ↑

Gap at 5.1c on the daily correct.

Daily chart still suggesting there is some downside/softening. Would be looking at the 4.3-4.5c range potentially.

4h chart IMO has been the best indicator so far for short term entry and exits. Little more reactive than the people trading the daily, but not as much noise as the hourly. (barely pips on that one unless using ema crossovers's.

View attachment 1682953

Green zone was where a bucketload of volume was changing hands as resistance so it's now a strong support zone. I've called it a zone, because with so many historical resistance/supports in this area it can be hard/uncommon for it to bounce off any particular one.

Short term i'd be happy buying in the green zone, 'stop lossing' myself out on the break of that lower green line. really needs to get above 5.5c before it starts looking appetizing long term. That said 4.5c to 5.5c is 20% very achievable.

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Spotted something potentially brewing on the daily.
Very tentative ascending wedge pattern - would like a third touch on the upper resistance for confirmation.

What should interest the bull is the slow stochastics trend. Anytime you can make higher high and lower low's is usually a strong indication of an uptrend. So it's in the lower end and look about to head up. I think the resistance line of the ascending triangle coinciding with the blue EMA will be where she stop short term.

5.6c is the first target but i think it should go through and then track within the triangle formation i've drawn

Major support shown in thick red and major resistance in green

I might attempt a buy on open Monday.

AVZ Price at posting: 5.1¢ Sentiment: None Disclosure: Held
18 Upvote

0 Great analysis

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