ASX:AUZ
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
SMP Strategy
Market Direction: Long Position
Chart time frame - Daily
Timeframe - 30 days
A – Activating Event
Market will meet support in zone @ current levels - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market will move towards the first...
$AUZ.AX needs to break 2c and 2.8c is on the Menu $AUZ #ASX
Australian Mines Limited (AUZ) is an exploration company involved in predevelopment of the battery metals projects located in eastern Australia. The current focus of the company is on Sconi Cobalt - Nickel - Scandium Project, Flemington Cobalt - Nickel - Scandium Project, Broken Hill Project and Bell...
AUZ has some work to do in order to breakout from the "Strong resistance line" and also get above this Moving averages. If 0.40 break could see another flush back to that .30 IMO.
Weekly rsi was way oversold along with 4 hour and daily.. This may have enticed the strong bounces from .30..
Watching that overhead Res..
AUZ has been trading in a parallel descending trend since November last year. If the 5.5c support of the parallel descending trend breaks, we are estimated to test the huge gap on the charts in October last year between 3c and 3.7c. It has been falling today on announcement of debt convertibles from Bergen which is negative
Share prices are still currently trading in a downward price channel with very low volume and hardly any momentum at all. However, prices closed the last trading session around a critical support price point around 0.081 support.
Share prices need to close and hold above the price channel and also 0.087 before further moves to the upside. The first two...
Looks like Auz is trying to find support at the 8.2c mark. Large gap from late feb has been filled. Last month has been in a downtrend. Downtrend lasted approx 1 month. OBV lowest it has been for quite some time.
Conclusions:
Optimistic - A period of accumulation then hopefully a trend reversal. FA of this company are great. Will top up on holdings when a clear...
