RE:RSI is 38.61 but trending down To 88guy, dragshot and gcap....our technical analyst contributors.....
In my view, technical analysis does have some merit in that it can help determine when to buy, not necessarily what to buy. The inherent flaw in trading purely on technicals is dismissing fundamentals. This is especially true in the mining sector where drill results can appreciably move a company's share price, up or down. Technical analysis cannot and does not predict drill results.
The weakness in AVN's share price was clearly attributable to the financing at $1.23. A drop from the $1.50's was a no brainer. Today's trading was well bid with over 300,000 shares on the bid from $1.29 and up. The market doesn't appear to be signalling a drop below $1.00 as some of you predicted.
My two cents...Carter
PS: gcap I do agree that NDA should do well