Things are humming again with increased turnover and surging share price.
My prediction in previous post on 12 June(see here-under) that Anvil share price would reach a two year high this week providing there was no world financial set backs has come to fruition.
There has been world financial setbacks in world stock markets (European Debt Crisis, resistance to increase of American debt ceiling and subsequent slump in markets and buying weakness.
The higher dollar is contracting share price in Australia as the difference in Anvil share price compared to Canada indicates. Yesterday high in Canada was $7.24 equivalent to $7.11 in Aussie dollar - compounding the fact that Anvil is under priced compared to TSX.
Can do no better than to Quote this comment from Stockhouse in Canada ----
"(Anvil) As strong as ever today, cleared a huge wall at $7.00 and closed right there after making a new intra-day high for the last few years. I have a gut feeling were headed to 8 within a week, barring a general market meltdown of course. Been interesting to see how copper juniors have held up for the past few months, Anvil has done better than most thanks to the new production coming online at a time of near record highs for copper."
PREVIOUS POST SUGGESTING A TWO YEAR HIGH THIS WEEK ------>
As predicted the "Go away in May Syndrome" has lived up to expectations.
Share price has languished on very low turnover tending to track movement in the Dow to some extent.
On Friday the situation changed. Anvil share price moved higher - Dow moved lower.
Some have no doubt had time to digest latest quarterly report and are discreetly moving in and accumulating. Share price should continue to consolidate.
Looking forward to a two-year closing high share price late in the second week/early third week of July moving towards a year high of $9 plus; and a share price close to $11 dollars early next year.
The hoped for share movement will, of course, be subject to world financial impacts which could reduce expectations but the situation is hopeful.
AVM Price at posting:
$6.80 Sentiment: ST Buy Disclosure: Held
