I've been following this stock as one of my closest trading...

I've been following this stock as one of my closest trading stocks since its capital raisings last year around may-june. AAX has the ability of moving in a 8-10% spread intraday sometimes, as you can tell from any daily candlestick chart. Its volatility is sometimes excitingly rewarding and can also have you running for your stop loss some days.

I initially bought in around $3.20 to accidently be rewarded with the option to subscribe to a new issue at $3.20 again. Within 3 months the stock was trading at $5.90 and I think it may have hit $6, however, I had sold all holdings around $5.75. I'm back in as of monday at $3.80, and already in two days I'm sitting close to 10% up. MACD chart is positive in the short-medium term, and I'm expecting at least a 20% improvement from its price of $3.80 at the start of this week. There is some short term resistance around $4.50 (I was suprised it moved past $4.00 so easily today). I think it may well trace back below $4.00 again, but only briefly. If it breaks to $4.50 this is significant profit even from $3.80 at the start of this week.

I posted an article (I think it was a UBS rating upgrade) on aax last year that showed a revised target price of $6.05. It got so close only to fall back to $3.70-$$3.80 range. This was to be expected as aax is not expected to return to full profit making levels until 1H 2011, by the time contracts are awarded and cashflow begins...

So for the short-medium term investor, aax is looking very attractive imo. For the long term holder, im positive there are a few wishing they had sold at $14, and I would be much happier considering aax a long term buy at these levels.

Just seeing Clough's announcement today with higher than expected profits should confirm that companies like aax and mah are also enjoying such conditions. Its only an assumption though, as each is different ie. aax with more of a global presence.

Anyone else have much more to add?