If TA matches up with news over the next few weeks, it’s going to be a cracker. There are usually 3 attempts at breaking support or resistance, then the direction of the next move is very telling.
- The pennant hints at an upward breakout. - First results at TA2 are due. -There’s been a hell of a lot of outstep and infill drilling at TA1 the last few months. News there? - Assays? - The CR and SPP was massively oversubscribed. Institutional investors from all over the world may have been looking at AZS for the first time, and keen to take a position. They were hugely scaled back and if still want to take any meaningful position, will have to buy on market. - Market depth at time of writing is only 884k units. That’s less than 3 x the number I hold, and I’m a small fish. - I am guessing at 75%+ now are very strong handed holders, so there’s only at best 25% of SOI for buyers to go for. Sure, things change as the SP rises, but if most of those strong holders are like me, they aren’t going to sell this until true value is obtained or they are forced to (T/O).
So unless things go very wrong unexpectedly, the perfect storm is upon us for your projection to come true. Fingers crossed!
AZS Price at posting:
$2.84 Sentiment: Buy Disclosure: Held
