jumpy_swings

AWC: Descending triangle approaching strong support levels

ASX:AWC   ALUMINA LIMITED
Noticed this stock on a recent screen. It shows a descending triangle nearing strong support ($2.12-$2.15) levels. Don't have a position on this and the company fundamentals look pretty good at the moment but a break below $2.12 would be very bearish from a technical perspective. Alternatively, if it bounces off the support level again it might be a good position to enter a long position for a short swing trade. Good luck
Aug 27
Comment: Looks like a bounce off support once again. Will likely enter a long position with a modest sell limit and stop at just below support levels.

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