aam - chart

Heres some thoughts on AAM:

On a weekly bar chart you can see a clear break out of the top of the channel. These can often be blow off tops, but since price consolidated breifly then broke out of a bull flag pattern, this is no blow off top. You can see volume moving up as as price increases which is a very good sign. I was expecting some slight resistance around 40c which we got in intraday trading, but she closed well above so im hoping it will be another strong day tomorrow. I have resistance at 50c being a nice round number that stocks like. Yes its as simple as that...lol.

On a daily chart you can see price has broken out of this triangle pattern on almost record volume both yesterday and today. This is extremely positive. The small gap on the break out looks like a break away gap and should not need to be filled. There was no gap between yesterday and today which was very good indicating steady and sustainable buying which was proven by the strong day today. (no gap fill).

Daily stochastics is making highs that are favouring an overbought situation which is very bullish. Recently it has made a higher high and continues up which is all indicating a strong trend.

Acc/dis broke out of a long down trend back in the start of September which co-incided with the break out that started this nice run up off consolidation. More recently Acc/Dis has been channeling up nicely and yesterday it broke out of the top of the channel which is very bullish. It continued up today indicating a LOT of accumulation going on. This stock is tightly held there is no doubt about it.

RSI has also been channeling up and is about midway with what looks like more upside to come.

My outlook is that I expect price to continue this run tomorrow with a target of possibly 50c....yes I think its got it in it.

[URL=http://img121.imageshack.us/i/aamweeklyvolume.png/][/URL]

[URL=http://img121.imageshack.us/i/aamaccdis.png/][/URL]

[URL=http://img6.imageshack.us/i/aamdailyvolume.png/][/URL]

[URL=http://img6.imageshack.us/i/aamdailyaccdis.png/][/URL]

[URL=http://img686.imageshack.us/i/aamstoch.png/][/URL]

[URL=http://img4.imageshack.us/i/aamrsi.png/][/URL]