Well said and well done my friend, we are looking quite smart...

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stevo 111

4,952 Posts.

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23/02/20

18:55

Post #: 43099144
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Originally posted by Tiglath ↑

Definitely a great finish to the week and the most important thing is that we closed above VWAP and that resistance line. I was expecting for AVZ to close above VWAP earlier in the week, however day traders took profit and we saw 50% retracement and then had a very bullish run. In my opinion, support and resistance level is the rate of price that’s been tested couple times and it’s hard to break, this is where we are now. I consider this area as “The supply & demand zone in (Green)” which is formed by two adjacent levels where price may bounce between those two levels, this is where there’s been a lot of supply for AVZ hence the importance for the sp to close above 9.6c

I first bought into AVZ in October 2017 at 13.5c and sold AVZ on Feb 2018 at 30c that’s when the lithium was very hot, and back then I was only swing trading lithium stocks. For the past 18 months, I’ve being watching AVZ on the sidelines and doing my research on the company. When fundamentals and technical analysis improved, I bought AVZ on 3rd of February at 5.4c for long term. Both FA/TA are now working in hand-in-hand.

Since the 11th of February there’s being a lot of accumulation for the stock and a lot of the indicators are very bullish. Whilst the risks are there, relying on gut instinct is no enough, it's a good idea to use risk management to guide you in your investment decisions. There are risks in every stock and aspect of life. As long we make the right decision. In my opinion, I would personally say go long for a very long time, but it depends on everyone’s goals in life.

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Well said and well done my friend, we are looking quite smart right now, I’m enjoying to he moment to.

GLTA.

AVZ Price at posting: 10.0¢ Sentiment: Buy Disclosure: Held
9 Upvote

0 Great analysis

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