AMA - technical setup

Worth a look at the short + medium term setup for AMA now the recapitalisation of the business is done and dusted (at much higher prices)

I think risk v reward at current levels is v positive atm

Daily - short term
Price action starting to show some green shoots moving the RSI out of the sustained oversold readings + setting up for a positive MACD cross.
First stop would have to be the small gap back to 5.2c to be closed, with the larger gap back to 10c being the target over the medium term.

Weekly - medium term
Again price action sitting on oversold territory on the RSI. Potential green hammer candle forming, which would be a bullish indicator.


Interesting to note that short interest has been wound back off the back of the capital raise.