This is weird! Your right. The stock is wound up like a spring and if your look at the chart in www.bigcharts.com as AU:AVO for a 1 year period and in interactive charting, the chart forms a large triangular wedge with its return line and support converging on A$2.10. At this juncture, which is literally days away, technical analysis says AVO must react either breaking up or down, most probably (we hope!) upwards from this triangular formation which seems to form part of a hitherto bullish uptrend "continuation pattern" (see the AVO chart in 3 to 4 year time frame). Which ever way the stocks breaks from here is going to be sudden and violent. Anyone any thoughts or extra knowledge?
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This is weird! Your right. The stock is wound up like a spring...
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