A lot of great fundamental positives in your thread, but from a charting perspective AVH made a new low last week and as such it's price has a higher probability of falling further than rising. It has fallen to a very strong support level from last year and if it falls through that then for me AVH's price is likely to remain toast for a while. I've been holding during the fall - from a short term trade that didn't pan out. Not holding many, so not the end of the world but a bit disappointing after I'd hoped for good things. Anyway, another day today and perhaps it will go up - but technically AVH is now a sell for me.
On a quick technical note I think I had my Elliott Wave analysis wrong initially and the entire price action on the chart below is a Wave 1 & 2 (I was seeing it as an entire cycle rather than just part of a cycle). Assuming it is a Wave 1 & 2 then it's action is text book perfect - ie rise into W1 and then lose 75% of those gains in the fall into W2. Another targeting technique I use suggests a bottom of $6 (which is just above that 75% retracement - but close enough for the exercise. Assuming price rises from the current levels it should rise strongly into Wave 3 which is the strongest and longest rising wave of a price cycle. Not really a double bottom in my book by the way.
Good luck
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Last
$2.94 |
Change
-0.060(2.00%) |
Mkt cap ! $200.2M |
Open | High | Low | Value | Volume |
$2.95 | $2.96 | $2.92 | $473.1K | 160.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5997 | $2.94 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.97 | 16400 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5997 | 2.940 |
1 | 2491 | 2.930 |
4 | 8500 | 2.910 |
5 | 13019 | 2.900 |
2 | 33000 | 2.880 |
Price($) | Vol. | No. |
---|---|---|
2.970 | 16400 | 3 |
2.980 | 16000 | 2 |
3.000 | 10695 | 3 |
3.010 | 11500 | 1 |
3.030 | 414 | 1 |
Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
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AVH (ASX) Chart |