Cheers mate, just learning, so appreciate your feedback.

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LawyerTrader

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31/12/18

13:05

Post #: 36990545
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Originally posted by davenjill ↑

Yes it is a descending tri, but for a more accurate picture go over a longer time frame , say from the top at 7. look for the most contact points, and you'll come up with a v large descending tri. Truly a horrible looking chart. Next to pick a bottom. Look for days of for large volume(day of announcement). Many trends finish with large volume , overbought rsi (below 30). It has broken thru the floor once at 2 ,but is currently holding. There is no confirmation at this stage of a reversal and if 2 does not hold then yes it's probably heading lower, but it will show a bottom at some point in time and if it does go lower it may be for a short period of time due to the downtrend being so long. Candlestick patterns are probably more useful at this stage of the downtrend. TA is really just a guide at as an exact low at this stage is more a than anything else.
Originally posted by LawyerTrader
The price action over the last few weeks has given me a much greater appreciation of technical analysis.

Only just taking my first steps, so just looking for constructive criticism. Isn't this a bearish descending triangle?

If it breaks to the downside, it's looking like a full cent drop (being 3 cents minus 2 cents, the size of the left had side of the triangle)? Thoughts, anyone?

@mirren would love your take on this.

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Cheers mate, just learning, so appreciate your feedback.

AVL Price at posting: 2.1¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 1.4¢		Change 0.001(7.69%)		Mkt cap ! $129.4M

Open	High	Low	Value	Volume
1.4¢	1.4¢	1.4¢	$68.23K	4.927M

Buyers (Bids)

No.	Vol.	Price($)
67	29492532	1.3¢

Sellers (Offers)

Price($)	Vol.	No.
1.4¢	3429220	13

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No.	Vol.	Price($)
20	3787523	0.018
8	2387728	0.017
8	2791875	0.016
11	2263500	0.015
2	500000	0.013

Price($)	Vol.	No.
0.019	862281	2
0.020	404607	6
0.021	598625	6
0.022	1380000	5
0.023	2654010	7

Last trade - 16.10pm 28/11/2024 (20 minute delay)

AVL (ASX) Chart

Cheers mate, just learning, so appreciate your feedback.

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