RE:What is going on with AZM ?Hi Servette, it is unfortunate that you didn't see my earlier posts, especially on June 30th when I wrote:
"Back on April 25, when AZM traded up to $1.55, I posted "Technical opinion" where I indicated that if the stock traded over $1.70, it had a "measured move to the $2.80 - $3.00 area". So here we are. For the skeptics, technical analysis can be a valuable tool when combined with fundamentals. At least I made one friend who had never bought a stock in her life and has now doubled her money and taken some profit.
Good luck to all the patient investors. The drill results will now determine the next big move (up or down)"
The stock peaked about June 29th when the company announced an expanded drilling program but it was another month (July 27th) before the second set of results were released. Because these results were not as exciting as Hole Elm 19-002 which returned 102m of 3.15 grams, the stock suffered a major technical breakdown. The drill hole locations plotted on the geophysical map also seemed perplexing to me. By mid-August, the the short term moving average (stma) crossed over the long term moving average at $2.00 and all the support levels were violated until the $1.00 area. The stock has excellent support in this area with overhead resistance at $1.20 - $1.25 and also at $1.40. There are many other issues which I will not discuss but we must see consolidation at these prices and more impressive results before the stock can resume an uptrend. Hopefully there will be encouraging future results on some of their other properties. Hope this helps.