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.
AVZ - Daily chart. Todays announcement "Manono Lithium Project...
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Last
8,012.1 |
Change
1.600(0.02%) |
Mkt cap ! n/a | |||
| Open | High | Low |
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| XAO (ASX) Chart |