AVO - Avoca Resources

[Sean K]

AVO hasnt seemed to have followed the POG too much Kennas, since the may correction it has more than doubled while gold hasn't done much at all. Merril Lynch has a $2 price target for AVO, there is a 26 page report on it at http://www.avocaresources.com.au/downloads/research/avo_research_200611.pdf

My opinion of AVO looking at the charts is it takes a spurt upwards, consolidates for a week or so, then starts it's next spurt. Each high is usually around 10 cents higher, and the low about 10 cents higher as well, so a low of $1.30-1.35 is what I am expecting, thinking of topping up again around there, but I was saying that around 1.05 and 1.25 as well

Yeah, you are right about the AVO/POG relationship. There doesn't seem to be one. Vely interestink. Should have seen that I suppose. The FS is supposed to be out soon. Perhaps I just hold on.

 

[Sean K]

AVO hasnt seemed to have followed the POG too much Kennas, since the may correction it has more than doubled while gold hasn't done much at all. Merril Lynch has a $2 price target for AVO, there is a 26 page report on it at http://www.avocaresources.com.au/downloads/research/avo_research_200611.pdf

My opinion of AVO looking at the charts is it takes a spurt upwards, consolidates for a week or so, then starts it's next spurt. Each high is usually around 10 cents higher, and the low about 10 cents higher as well, so a low of $1.30-1.35 is what I am expecting, thinking of topping up again around there, but I was saying that around 1.05 and 1.25 as well

Thanks for the link too. Gives me more confidence in it!

 

[deftfear]

Their website also has a report by Patterson's, both reports are very bullish, a fair bit of reading there between the 2 reports, but very interesting too.

 

[Rafa]

agreed, the market conditions in general (as oppposed to the POG specifically) out there are certainly not favourable...

an announcement would be good, hope it can hover around 1.40 till then...
but i am certain i will be holding this thru the storm...
maybe buy some more...

 

[Nicks]

Gold up, commodity sotcks up, AVO not up (in fact down a fraction) - good buying opportunity as the market hasnt caught up with AVO - (or will in the last few minutes or tomorrow!!)

 

[Sean K]

Gold up, commodity sotcks up, AVO not up (in fact down a fraction) - good buying opportunity as the market hasnt caught up with AVO - (or will in the last few minutes or tomorrow!!)

Gold has been going down and sideways for the past 6 months but look at AVO. Perhaps it's an inverse correlation! I bought when it 'broke through' $1.40, but have just seen it drift and go down, just slightly. Mighten't be the 'break out' I had hoped for and I might put the cash to use elsewhere. Maybe a good vino or two....Or, maybe I'll give it a few more days to stay above the medium term trend which seems definately UP!

 

[GreatPig]

Patience Grasshopper

The price is tracking the recent trendline well and hopefully will push up again very shortly. There is a bit of RSI divergence though, so worth keeping a close eye on.

I might put the cash to use elsewhere

Whenever I do that, the price immediately takes off afterwards.

I recently got bored waiting for REA, VBA, and DLS to start moving, and they all did from practically the moment I sold

GP

 

[Rafa]

please sell GP...
your holding this stock back!

 

[Sean K]

Sell now GP, it's hitting a critical support line...

 

[Rafa]

yup, its the moment of truth...

GP...
where are you???

 

[Sean K]

$1.30 looks like a support line. Will probably bounce around there.

 

[Nicks]

Ahh yes but we are overlooking something - THE FUNDAMENTALS PEOPLE

Here comes the slingshot up to $2+. Work it out, based on their reserves, cost of operations, revenues coming in, this stock is worth much more than its current market cap.

 

[CanOz]

$1.30 looks like a support line. Will probably bounce around there.

As expected:

 

[GreatPig]

GP...
where are you???

Internet was down at work nearly all day. Didn't have a clue what was happening today until about 3.45pm.

I actually got a sell signal for this stock yesterday...

GP

 

[Sean K]

That long tail on Friday is a good sign I think. Gold price should give this enough reason to rebound Monday. I hope..

 

[Sean K]

How about the bounce off $1.30? Going to script.

 

[Sean K]

GP, you must have sold. It's turned around and heading back up by the look. MACD converging on the up. Nice hammer candle today. Noice!

 

[GreatPig]

GP, you must have sold

Aw... how did you guess?

But I bought MRE instead, which is doing better so far.

GP

 

[Rafa]

Thanks GP...
finally this stock can get a move on...

Must admit, my patience is wearing thin

 

[Sean K]

Thanks GP...
finally this stock can get a move on...

Must admit, my patience is wearing thin

Hhhmmm, down today, not expected. Not sure what POG is doing. Is this perhaps in relation to the Norseman acquisition? Will initially be costly perhaps.

Be patient Rafa, remember this has had a massive 1 year return.