Yes AZL lost 1 pip to finish at 7.6c. Our volume was similar to last few days, just over 10m shares traded. Dropped below our 7.7 - its still within statistical range, hope we gain back quickly.
ASX Li stocks again were indecisive. Of the 54 stocks that I track, it was flat and there was no gain or loss..
What next:
We had a good night yesterday in US markets. SP 500 after 8 days finishing between 3900 and 4000 finally broke the monotony and finished above 4000. It is very bullish.
As I have been hoping and writing for some time, I feel we will play the next resistance and possibly the one after that. Next one is 4070 the 200 day moving average. Next one is around 4150 which is a long term sloping trendline. If we break both, there is a high chance that short squeeze may happen and we could jump anywhere between 4300 and 4400. But all this is if things work out well. If not, lets hope we hold our very strong resistance at 3900 and make another attempt in short term future. . Personally I have been playing for this rise towards 4100/4200 for sometime after rising from 3500. We have made good headways till now, hopefully the final leg is favourable too. . So what will happen tonight? Much will depend on FOMC minutes later tonight, 2 hours before markets close. This is a lot of anticipation that it may provide strong direction to markets. All technicals are bullish for short term. All lead indicators like dollar index, Yields and Volatility Index VIX are going in right direction. After getting a battering through out the year, lets hope we get another favourable outcome after the CPI data and make our first cross past 4070. Will that happen? Lets hope so. All the best.
AZL Price at posting:
7.6¢ Sentiment: Buy Disclosure: Held
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