AVB 0.00% 16.5¢ avanco resources limited

is now the opportunity

  1. 1,359 Posts.
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    Havent seen avb this low for a long time since sept 10 with the exception of an earthquake

    Is now the opportunity?

    We seem to be heading into a storm at present

    But lets look at the positives of avb today

    1. On a negative 100+ day down the avb dropped to 11c but never touched 10.5 which was 0.005 c down

    2. Sellers where selling because of possible 'calls' on their margins so they were forced to sell hence most of the 8 mill were sold at 11c

    3. There were also 8million buyers at 11c today as well. Thats a pretty good endorcement that this stock is still in demand.

    4. there are 4 million waiting at 10.5 c, and they may not even get their 'buys' filled especially if the dow rises tonight.

    5. Lets not forget the pending results getting closer and closer.

    So overall the day was pretty postive and if you bought today, it was a great opportunity because if this moves any lower, it will bounce again off 10c because

    1. This is the resistance level

    2. This stock has still good fundamentals - the copper readings have been still excellent. Some of the holes were below expectation. They are better results than cudecos and its $3.

    3. There is still interest in this stock, as there are still high level volume at 10.5 c and 10c still.

    4. They have still ample cash, with vale and estrada to contibute soon. So if the market falls further avb are financially better off than most players. 20 million is still plety for a small cap. I look at most small caps and their cash is maybe 500k to 1 million if they are lucky. I looked at one today 'eye' they had 15 k in the bank. So avb are in the box seat if you compare them to say eagle eye mining.

    Sure everyone is frustrated with the speed of recovery back to 20c. There are many of us sitting on 13 +. Some of the lucky ones are long term holders from pre sept 10 where your 'buy' was 3 - 5c.

    So I think things are not so good in the finance world at present. But May is always rubbish. All avb need to do is find that copper and iron. Im sure they will, and it will be soon. Do not fear avb will have its day.

    Where there is yin there is always yang. We are in for a treat soon. Thats why I hold.

    Brownie



 
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