Aveng, once a prominent player in the construction sector, experienced a dramatic decline from trading at R69 a share in 2008 to becoming a penny stock. This downturn was driven by several critical factors, including reduced construction spending following the sub-prime crisis, a halt in government infrastructure projects post-2010 World Cup, and hefty fines from...
Aveng, once a towering presence in the construction sector, experienced a dramatic decline, transforming from a stock valued at R69 a share in 2008 to a penny stock. This downturn was influenced by several critical factors, including reduced construction spending following the sub-prime crisis and the subsequent cessation of government infrastructure development...
We see a W Formation, with the price moving and completing the right Double Bottom.
Once we get a breakout to the upside, we could see major upside to R11.25.
Right now and it's a wait and see but the fundamentals look good.
UPDATE:
On February 16, 2024, the company announced an expected 45% increase in revenue for the six months ending December 31, 2023.
...
Cup and Handle has formed on Aveng after a long term downtrend.
The price has broken above the brim level and so momentum is leering up.
Price = 200MA
RSI>50
Target R11.28
ABOUT THE COMPANY
Aveng Group is a diversified infrastructure and engineering company based in South Africa.
Diversified Operations: '
Aveng Group is involved in various sectors,...
AVENG is in a long term range bounded area.
It's been coming down for years on a slow and steady declination of a trend.
I've even put the time frame on weekly because daily is just not active.
By the looks of it, the next target could ease down to R4.00 then R3.50.
Not a traders haven choice and many platforms do not even offer this.
Symmetrical Triangle has formed on Aveng... With the property prices on the way down with the global crash, we can expect the price to drop further... However, as traders we need to wait for a breakdown first, to confirm...
This could very well break up and we could have a Reversal Bull Symmetrical Triangle.
But right now the bias is bearish with a target at R8.08
I personally don't like this stock because it's not liquid enough for my liking; but its currently breaking-out of a nice base.
Next hurdle will be the 200dma around 2140c.
Since the Aveng stock split trading view was struggling to display the stock split, happy to see this corrected
What I see
Past 7 years a consistent down trend, with possible reversal now in 2021.
Rounding bottom a great reversal or short term bullish pattern with statistically excellent results
Local top in October 2021 followed by a pull back....
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Life changing trades, we bought 1000 shares at Nearly 0 and it’s made a massive move.
Wish to come across more of these cent stocks that have massive potential
Aveng this past week finally managed to break the 4c barrier which drove excitement across the market as this was an instant 25% jump for those who managed to get in at 4c per share, I being one of them. In terms of earnings and operations, the company seems to be at the turnaround point especially after posting profits after years and years of negative...
"Aveng is btc in 2009.
I found an article talking about how everyone thinks its a cosntruction company that has crashed and is thus writing it off, but its actually changed into a mining company in Aus, Asia and West Africa.
and its making profit.
They traded at R33 in normal times (after 2010 boom and dip)
I did a rough back of the hand - this company...
