re: amp
It is worth remembering that in January and February, AMP was in a strong uptrend on speculation that the business was recovering strongly, raking in excess cash and set to return $1 billion to shareholders. This in fact turned out to be exactly what happened, yet now that the company is producing the goods it is out of fashion and trending lower.
A fundamentalist would be attracted to AMP because there is nothing exposed to suggest a problem has developed within the business in the last 2-3 months. A trader however wouldnt be keen on the chart and would likely exit positions and consider going short.
In my opinion it is another example of a stock running on rumour and selling on fact. I suspect that the fundamentals of AMP are indeed very solid and the future earnings estimates are not a good indication at all...
AMP is currently not highly exposed to equities, so less vulnerable than many other investment stocks in the event of a wider market downturn.
AMP Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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