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Avation shares flying towards £2.25

Published: 04:45 15 Feb 2017 EST

Shares in Avation PLC (LON:AVAP) are set to soar even higher and head towards the £2.25 mark, so says technical analyst Zak Mir.

“[The shares have] had a decent turnaround from the summer, breaking back above the 50-day moving average in August and have been in a rising trend channel ever since,” Mir explains.

“The floor of the channel currently running through to £1.85 and while we hold above that, [there is] an implied target as high as £2.25 at the top of the 2016 price channel.

“Ideally the shares will now hold the 50-day moving average at £1.95 ahead of further moves to the upside.”

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