AVZ - Daily chart.
Todays announcement "Manono Lithium Project Drilling Program" wasn't the assay ann everyone had been hoping for so that & maybe a small correlation with the DOW explained the (low volume) sell off today.
I'm still bullish for a trend reversal here and I believe a strongly supported 14.5c is the bottom.
- Selling volume almost exhausted.
- RSI & MFI still trending up suggesting a trend reversal is imminent.
- SP could possibly touch 14.5c area tomorrow but with assay ann's 'expected' next week I would say anticipation buying will pick up Friday.
- The last few weeks seemed to have stopped out pretty much all weak hands and or the over committed. (the decline in selling volume is evident)
I believe the 'big boys' are only waiting for one decent AVZ announcement to signify the start of a new uptrend with a large volume day.
Also assay announcements, a Jorc resource estimate and speculation about a JV/TO it shouldn't be too far away.
- Forums
- ASX - Short Term Trading
- Short Term Trading Weekly Starting: 28 May
AVZ - Daily chart. Todays announcement "Manono Lithium Project...
-
- There are more pages in this discussion • 60 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XAO (ASX) to my watchlist
(20min delay)
|
|||||
Last
8,194.8 |
Change
4.900(0.06%) |
Mkt cap ! n/a |
Open | High | Low |
8,189.9 | 8,207.2 | 8,167.7 |
Featured News
XAO (ASX) Chart |