If you are technically minded you would’ve sold out on the rise into good news either on the way to 7c or on base case at low to mid 5s.
If you didn’t sell there, then 4c mark was a major support line, and breaking below that would’ve been a sell trigger.
If you want re entry, you need to see higher lows and highs above 2.7c now for the next few months.
The exception would be unexpected good news related to initial financing or something from left field that isn’t priced in now.
Options wise, it would make a lot of sense to lock in profits at ‘the above’ higher prices and then convert options before expiry. Let’s face it. Even though many of us think we are smart investors, a lot of us will be short on cash and high % in equity markets after a decent 8 year bull run, and will have to sell off profits in some of our current holdings to fund option conversion in AVL. Why not lock in profit and buy back the same or most likely more shares in a company we love and believe is well positioned to become a supplier of a resource in demand.
The share price has done exactly what it’s supposed to.
A short term scramble for those cheap shares before the real action starts happening post PFS, and current options expiry. All IMO
I’ve held from 4.6 through to now with no change watching on and learning.
AVL Price at posting:
3.0¢ Sentiment: Hold Disclosure: Held
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