I think the 50 day moving average (on the recent downswing) was around $1.88. AMP has managed to recover from around $1.61 to $1.81 in about a week. If you consider that it's been labelled a "dead dog" then it's paws and snout are still moving LOL! I saw 1.2M units yesterday gobbled up in around ten minutes. Volume has been solid, and at this point, I was expecting a slight retrace down 2-3c today but it didn't happen. Rather, it closed up 1c. Sellers are on the run in what seems a stable bull phase. I'm basing this statement on past experience, but whenever I've made money in the market, especially on distressed assets, these are the indicators. I also believe the market is anticipating positive news shortly.
Now, clearing the 50 day moving average over the next few days / weeks will be a solid sign of support with (as stated) a sale of the insurance arm + reinstatement of dividend and we could see something realistically as high as $2.25. From there, it depends on whether market winds and favourable currents push AMP back into calm waters...
Good luck all.
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Last
$1.34 |
Change
0.020(1.52%) |
Mkt cap ! $3.419B |
Open | High | Low | Value | Volume |
$1.34 | $1.35 | $1.33 | $11.07M | 8.255M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 29582 | $1.34 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.35 | 23354 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 29582 | 1.340 |
2 | 131775 | 1.335 |
3 | 65852 | 1.330 |
2 | 30108 | 1.325 |
5 | 230588 | 1.320 |
Price($) | Vol. | No. |
---|---|---|
1.345 | 23354 | 2 |
1.350 | 170661 | 6 |
1.355 | 329108 | 19 |
1.360 | 340101 | 24 |
1.365 | 102108 | 5 |
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