Despite all the negative comments of late and predictions of SP declining to 29 cents the AMX closed fairly strongly today.
Bluesky Report recommended AMX a couple of weeks back with a buy price of 50 cents and target of $2.17. Investment horizon is 12 to 24 months. Their view is that the stock is oversold due to market sentiment and that the fundamentals are still in tact.
The key point here is that the SP has to make 50 cents before a buy is triggered because the SP has to prove itself. This strategy is the opposite to buying a falling knife like many on HC try to achieve.
The big money is made following trends,cutting losses short and letting profits run.
On the surface market sentiment seems to be changing so it will be interesting to see the AMX story unfold.
DYOR
AMX Price at posting:
44.5¢ Sentiment: Buy Disclosure: Held
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