I actually dont know what question jag72 and you are referring to and I have better things to do than go through old posts looking for it.
If you read back on my post you’ll notice that I actually acknowledged the long term potential for AVZ. But of course holders and cheerleaders only want the forum filled with positives about the stock.
Fact is there is a gap at 42c which is not a breakaway gap, and so would be expected to get filled. Add to that 42c also happens to be the bottom of a price channel. You may also have noticed that there has been a failure to break through upward resistance, and also volume of buying has significantly reduced in recent days.
Of course if there is a significant announcement in the coming days about ML then that would change everything. Rumours aside and assessing things objectively I would say such an announcement is looking less and less likely. So we are then in a situation where the stock price has no short term news to push it higher and needs to wade water while waiting for the next significant announcement. Do you honestly believe the buying volume will magically arrive and help set new highs which have failed to be set recently?? Far more likely is that without news it’ll retrace.
Seasoned shareholders wouldn’t be phased by a short term retrace and might actually see it as healthy and a further buying opportunity. As I’ve pointed out in my previous posts it doesn’t change the fundamentals and long term valuation of the company.
Cheerleaders and beginners can’t see this and so will attack anyone who suggests that a healthy retrace could be possible.
This is of course just my opinion. I’m not a professional but I’ve done very well over the years. I’m fortunate to make very good money from my day job and so share trading is a hobby though over the years has been a very lucrative one. I haven’t always been right but I’ve seen the current scenario countless times before and what I say comes from vast experience of seeing this previously.
My declared sentiment has been to hold which reflects inability to declare short and long term sentiments. Short term this in my opinion is a sell and longer term is a buy. Some will see this as an opportunity to sell, lock in a profit and increase their holding by buying back in at a lower price and so multiply future gains. Others will just decide to hold and ride out short term price weakness knowing that the share price will recover. There is no right or wrong answer here but purely dependent on individual strategy.
Attack me as much as you want for telling you something you either don’t understand or just don’t want to hear. This forum is meant to be a discussion of the share price, technicals and company fundamentals. If you prefer it to be banter between holders about champagne, and made in china celebratory hats, tshirts, then that reflects poorly on you.
AVZ Price at posting:
68.5¢ Sentiment: Hold Disclosure: Not Held
