Another thing that doesn't help is the extremely bullish sentiment on the ASX right now. This means retail investors have many more opportunities to get 1, 2, 5 baggers.
Hence you see retail selling AVZ between 25c- 30c and putting profits in other stocks. Cobalt, conglomerate gold in the Pilbara, South American lithium is hot hot hot, did anyone say nickel??, next Klaus projects - even graphite stocks are currently on the move!
If that wasn't the case, the SP could go higher faster. Now we really need the Chinese to outbid each other. Retail is not going to put much more money in AVZ when there are so many other opportunities available.
We're now just waiting for the next Chinese line wipe. I think next week we will break 30c. But it will be hard to move to 40c. Too much selling pressure from retail in this hot ASX market.
I hope I'm wrong though and 40c will be a magnet.
Another thing that doesn't help is the extremely bullish...
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