weekend lounge short term trading 16 -18th aug, page-27

Entry Stt AMX TA LONG

MC 37 MILLION

Continuing on from last months entry here ! Few days still till go and looking for breakout in price from here .

Ampella Mining Limited (AMX) is a near-term gold production and development company with gold assets in Burkina Faso, West Africa. Looking for turn here in market sentiment .Amx has shown some indecision in the sell off around 18 cent mark and began to flatten in chart forming a bottom . A couple of times has shown volume nearing this stage as value is being sort by the market .The trix has crossed signal line around this volume and has begun its up ward curve signalling the bottom. Is now crossing the bias line on a five five basis with confirmation of a turn in market sentiment by the 15/9 trix beginning an upward curve also. The ten day moving average of price is right on the money and being confirmed by stronger green candles that the price may have reached value where sentiment will change in the market. Looking for a small cup and handle pattern to form here with first target around that 18 cent mark with a higher target of 24 cents possible short term.

Upward trend in price still occurring and recent high volume days have not been sold into .Recent high volume days have been in the low of the cup and top of handle in a continuing pattern. Short term ema has crossed and spiked when caught up with price.