AVB avanco resources limited

Chart Chat

  1. 25,374 Posts.
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    Heres a few charts of the current and 5 year history.

    Of main relevance is the current breakout from a two year resistance high of 83/84 and the gap up .....Question is will the gap be filled...Its most likely imo ...breakaway gaps only occur on unexpected fundamental rerating.. this was anticipated in my view given the last few days increases......and the fact that so many have sold into the news from todays high of 97. The closing candle for the day has a large 8 point upper shadow where the bears held the close...
    Its most like a gapping up Doji...check this Link see what you think..



    Its also most probable that the stock will continue above 84 after retrace and retesting the support  in the future...as the breakout was on such significant volume.
    Happy to explain the other charts such as the Andrews Trendline target and the lower chart fib congruence as necessary cheers.....


    avb31012017d.jpg avb31012017c.jpg avb31012017b.jpg avb31012017a.jpg
 
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