AVON RUBBER PLC - LONG Forming a stage 1 accumulation after a low rsi, deemed around 20% undervalue from analyst recommendations. Buying on the turn of the daily MACD.
AVON
Avon products (AVP). Possible Ending Diagonal. Buy breakout.It could be an ending diagonal in the last wave down.
MACD shows bullish divergence for many months and its reading is positive already.
Price is already drilling the resistance.
Long on breakout.
POTENTIAL HIGH REWARD TRADE ON AVON PRODS INCBulls managed to make a breakout out of this circled corrective pattern.
Now after the breakout, market is retesting the breakout level and i am seeing potential to buy here with a tight stop.
Note the previous similar breakout pattern, that was followed by a big rally.
Buy @ 5.53
Stop @ 5.43
1. Target @ 6.00
2. Target @ 6.75
There is a potential 1:11 risk:reward.
Best of luck.
AVON tech basis for recovering growthSignals:
double bottom
pennant-triangle
Buy 5.72-5.75 (breakout of pennant's top line)
Stop-loss 5.30 (-1 tic under local wave)
Target 7.50 (sizing)
R/R ratio 1:4
