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Short Term Trading Week Starting: 9th Apr, page-48

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lemons

1,199 Posts.

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09/04/18

15:51

Post #: 32323567
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Originally posted by Freehold ↑

AVZ - looking technically cheap IMO
RSI (relative strength index) on AVZ is almost as low as we have ever had at 38 (@ 21.5c) nearly the most oversold ever since the monster DRC Manono lithium project acquisition. Record low RSI was 37 on 12 Dec last year . So we are "within a hair of record oversold" territory. Expect a bounce from here.

We are at or extremely close to the ST bottom IMHO. Swing and very short term traders like to enter on extreme RSI weakness. Lets see if history repeats again here. Not a time for selling IMO but a buying time. History repeats at these points ...Inexperienced retailers will sell at v.low RSI and experienced traders will buy it.

You would have made good money every time buying a very low RSI over the last 12 months on AVZ (See Chart)

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Just sharing that I have a research note from a post that AVZ is potentially a good project but the road will take years to build and will be expensive.
Maybe some one with more knowledge on the location would like to comment

XAO Value at posting: 5,909.6
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