AZL General Discussion, page-6480

A good, solid day

Yes, although 16c looked like a poor finish, but trading was strong and points to something good. We finished half cent up to finish on 16c. Our volume was good, close to 65m shares traded. This was our highest volume in nearly 2 months - looking very good. Our VWAP average was 16.1c, so a fair finish.

ASX Li stocks had a relatively flat day overall. Of 25 stocks I track, average increase was 0.5%. We gained around 3%.

So this is the fifth day we are playing around the 16c mark hurdle. This 16c was reached after 6 weeks. So I knew that will be some hiccups. Lot of people sitting from single digit buys with big holding - profit taking/risk management in play. Also, the BLM approval is keeping some people nervous and many with good gains might want to sit out or reduce holding. Fair play, so that is what we are seeing.

My expectation is that this hurdle should get over in 1 to 2 weeks. We have done one week. We are getting towards the second week and business end of this hurdle. This is my reading, but would be happy to see what chartists are saying.

What next - Its getting ready - I can feel it. Unless there is no macro condition (nuclear etc) or a very bad announcement, I see ourselves moving out of this zone within a week. There were couple of big sellers today - some getting desperate and moved their sell from 16.5c to 16c - killing the momentum at one stage. But its good to get over these sellers now. When SP rises, there will be less resistance and we should "breeze through" to our next level of 22c. But lets get a finish over 18.5c first. Will that happen tomorrow - lets hope so. All the best.