ASX:AQZ Alliance Aviation

ASX:AQZ is now testing the bottom of the trendline. If broken, look for support at $1.685.

Alliance Aviation looks like a good buy now, however, the risk of it falling out of the channel is still present because the RSI has yet to curl up and the 10 and 21 ema (s) are starting to curl downwards. I wouldn't catch the falling knife although some people love catching the bottom.

A safer entry would look at waiting for the RSI to cross back above 50, prices to cross above the 21 ema or at $1.895 and above with stop-loss @ $1.845
If you intend to enter now, stop-loss at $1.705.

Short-term target $2.060.
A slightly longer-term target $2.265

A fall below $1.705 will invalidate this view.
This post and ALL (previous and future) posts are purely for entertainment purposes only. The owner of this post is not a lawyer, accountant, financial advisor, investor or pastor. All the comments here are personal opinions.


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