What is of concern, if you look at the past three days activity the volumes are slowly increasing as the share price continues to go down further. That is a worry. Sometimes a stock may be sold down on small volume. But this is not the case with AMX. By days end you could expect at least 2 million done at levels we have not seen for a very long time. This is now almost a ten bagger but in the opposite direction. What is required now is for the company to garner support from all of those institutions that have bought at higher prices and hope that they still believe in the story. Unfortunately most institutions don't believe in averaging down. With many investors not willing to commit money in the market at this point in time it could be a difficult few weeks for shareholders. If it was the last few days in June you could argue that tax loss selling is alive and well, but we are at the beginning of a new financial year. Unfortunately institutions are very good at dumping because it is not their personal money.
AMX Price at posting:
38.5¢ Sentiment: Hold Disclosure: Held
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