AVD Great Buy Between $9.56 and $10.58.AVD has three simple trading levels and is trading near the lows around $9.56 to $10.58. There are long wicks down to $9.56 and below for the best entry opportunities. I think AVD could present a buy opportunity over the next few weeks or months and I would be willing to buy around $9.56 or lower. For now there has been a missed opportunity and AVD is trending up. I would wait for a pullback though.
AVD trade ideas
🟩 AVD - setup recapAVD had a nice cheat that set up! It did breakout on 26/7 however it did so on BELOW average volume. This triggered alerts on my end, however due to the low volume I didn not buy. It then paused and subsequently we got a follow on rally whenre I bought the stock (buy price @23.36) that ended with a +180% volume increase. The stock advanced +3.32% on that day.
Important Lesson
Breakout volume is required to start a position
Sometimes institutional volume support might come in the following days
$AVD Consolidating below its 50 MA$AVD in the #ags chemical space held up better than many others in the group.
Its consolidating right below its 50 MA.
A beak upwards through that level could reinstate the uptrend from earlier this year. That will also invalidate the potential head and shoulders top.
AVD Breakout, another pilot position.Added a new pilot position. Now 9% invested with 7 positions ranging from Oil & Gas, Pharma, Education and Chemicals specialty.
Im trying to put a toe in the water with a "Shotgun" approach meaning im adding different small breakout names of different industries. Well see if I get traction from here so I can de-risk my first tries and build from there.
Buy point: 23.55
Stop: 21.70
Avg Cost: 23.68
Risk: 7.85%
Full Defensive--> 500 USDs Risk, 252 Shares, 1.17% of portfolio. Now 9% invested globally on the portfolio.
$AVD breaking out of its ~14 month base * Broke its historical resistance of $23.55 which dates back to 2006 with tonnes of volume behind the move
Technicals:
* Sector: Basic Materials - Agricultural Inputs
* Relative Strength vs. Sector: 52.33
* Relative Strength vs. SP500: 8.92
* U/D Ratio: 1.61
* Base Depth: 71.26%
* Distance from breakout buy point: 2.35%
* Volume 196.27% above its 15 day avg.
Trade Idea:
* You can enter now as the price is really close to the broken resistance of $24.25
* If you're looking for a better entry you can look to enter around the $23.85 area or even a retest of $23.55 seems likely.
* A retest of this area ($23.55 to $23.85) would indicate that buyers are willing to push the price higher.
* Next historical resistance comes in around $27.9
American VanguardChart pattern: Descending triangle
Entry: 19.50$-21$
Stop: 19.16$
Target: 23.20$
Stopmanagement: ATR Stops daily chart default settings
Risk:Reward-Ratio: > 2:1
Description: The chart formed a descending triangle and broke out of it. The sustainability of the break out is also confirmed by a high volume and a bullish MACD-crossover.
American Vanguard moving higher off old supply.
###TITLE SHOULD SAY "OFF OLD DEMAND ", SORRY ABOUT THE CONFUSION####
Yesterday AVD reported earnings with a beat. If price holds here , it looks like we have nice opportunity. Price also happens to be coming off old demand level. I have a stop at 12.28 with a first target at 13.80 and a second target at 14.89.