AMP has been absolutely smashed the last 10 trading days mostly on information that was not a surprise to the market.
Wallis was always leaving sooner than later,Batchelor was always going to be up for a payout,the result came in right on the analyst expectations following trhe downgrades that took the stock down to the 10.00 mark and the company has now taken a hedge protection on the FTSE.
All that taken in to account it has not stopped it falling like a stone from $10.00 to $7.00 very quickly on these same factors and a very exuberrant level of bearishness.
The FTSE was up over 2.5% on Friday night despite the US and European futures being down here on friday.
WE saw a sell off in the afternoonon the back of the futures weakness , its now difficult to know what will happen this week should we actually get a rally on the UK markets and some respite on the IRAQ situation with the commencement of disarmement.
Anyone got a price target for the open and close Monday on AMP and then say in 3 months when it will have decided its direction from this current low.
Ill start the ball running with
OPEN $7.10 Close $7.20 3 months $8.00
Speak to your broker and do your own ressearch this is just my opinion and looking to see others thoughts to see if they corrspond with these or with the weekend press b4 the UK decided to go up so far.
AMP Price at posting:
0.0¢ Sentiment: None Disclosure: Held
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