A bit of a messy H&S on AVZ

17 באפר׳ 2018

ASX:AVZ is one stock that has not had a settled time in recent weeks at all, with the ASX hitting them with a number of queries, and the charts are reflecting this. There is a bit of a messy Head and shoulders pattern formed. I had expected it to bounce by now, the continued fall is rather concerning. Another concern is there could be a long way to fall if it dips below 20c, with not much strong support to my eyes.

Already looking quite oversold, it has good odds to get a small bounce soon, but needs a lot more work done to break the downtrend it's in.