AZL Daily Report, page-514

Back in uncertain territory?

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Yes AZL seems to have got into the uncertain territory. In fact, it really didn't come out of this zone. Trading in low volume between 2.3 and 2.5. From a weekly perspective, we lost a pip, last week at 2.4, today 2.3.

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There is not much one can do at this stage. It's a waiting game, looking for a catalyst. It may come, but timing is slightly unknown for now. Big things could happen in the next few months, so for those with patience, could be to bide the time. Small announcements have not made any difference in trading pattern for now. From a number perspective, it would be good to hold this level. Looks like very good support at 2.3, but could be tested as June coming up, usually a weak ASX period due to tax transactions. Worst case 2.1 hold will still be very positive in any difficult times. Up, we need to cross 2.5.

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Personally in June I play with caution. Every year I think some tax selling may not happen, but mostly takes place. So try to play with lower number so that if any weakness is there, I have the funds to buy. I was hoping we would have received some big news by now which would have taken us to 3s, till now it hasn't happened, but could still. I am playing the same here on a lower holding, comparatively, still hold decent, and see how this June phase happens.

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So what may happen next week? Don't know, there is no direction currently. Stock is in a holding pattern. What will break this? A strong announcement or a very strong Li macro play. Otherwise we wait. Let's hope we see something positive next week. Enjoy your weekend and all the best.