Although it's almost impossible to find anyone with a bearish...

Although it's almost impossible to find anyone with a bearish view on the AVB forum I would like to give my technical opinion and I encourage ewob to post his as I would be very surprised if he is still bullish after todays price action.

Okay so if you look at the volume and close on todays bar it's similar to the 13th of June. An extremely high volume bar closing in the middle. You will notice the price retreated approx 27% from the high of 7.6c down to 5.5c. The main difference today which adds to the bearish picture is the narrow spread which shows the price was restricted from moving higher and every buy was met with a sell. If there was mainly buying today the price would have closed near the high with a wider spread.

In addition to this the 8th of August also indicated strong selling (massive volume closing well off the highs) which was confirmed on the 9th by massive volume and a close towards the low of the bar.

IMO the big boys are off loading here and we are going to see a pull back towards 7.6c before we launch again.

I am very interested to hear and welcome other peoples views on this recent price action.

This is just my opinion and not financial advice.