AZL Daily Report, page-512

Is it getting better for a break?

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Yes AZL had another decent week without being spectacular. From a weekly perspective, a slight move from 2.3 to 2.4. Last week we moved from 2.2 to 2.3. So small incremental gains at this stage?

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So how are the last 2 weeks different from several weeks of trading before? There seems to be an intent now. Some are happy to buy at this level, the difference is buyers are ready to step up. Big buys on 2. 4 this week. 2.3 is now a big support like 2.1 from before. So all in all positive. We touched 2. 5 this week. The only thing is, buyer is patient and happy to accumulate. So we have to get over the supply, then the buyer may push thru 2.5 to 3 level. So a patient play for now.

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Personally no trades for me this week. Last week I had bought some at 2.3, next buy I will wait for 2.5 to be taken out decisively.

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So what may happen next week? 2.5 is a very key level. Lot of sellers sitting there. Our buyer has to get more excited, we need fireworks. Or some announcements. Overall macro both general markets and Li macro has slightly detiorated. So we want that to improve slightly. But we have had good plays last 2 weeks, if it continues, the big hurdle of 2.5 could be gone in a flash. Let's hope it plays out that way. Enjoy your weekend and all the best.