Looking at the volume today, it's relatively low, but the price...

Looking at the volume today, it's relatively low, but the price jump is comparatively high compared to the previous couple of weeks.

I'm not going to claim to know where it's heading, because I don't, but the previous high (within a narrow range) of approx 3.67 wasn't broken and the wide spread on low volume suggests to me that the price is reaching the top of an established range.. Sellers were waiting at the top of this narrow range and there wasn't much selling in between

There's been some unusually high volume over the last couple of weeks (15th and 21st of June for example) which at a guess, could mean that there's some accumulation taking place. There's allot of buying into the selling which is keeping the price relatively steady (the narrow range), and the spreads are narrow but with higher volume.

I thought this could mean that allot of shorts are being covered but the ASIC short sales report indicates an increase in short sales up until the end of May 2018 and then a fall until mid June, and now it seems to be increasing again (just slightly though). The data I'm looking at has a 4 day lag so things may be different now so I'm not sure what to make of it. It has struck me though, that there's an awful lot of volume within such a narrow range and no significant and positive news.

Speculating now, there's probably more sideways action to come before we can determine a definite direction here. If the prices bounces off the mid 3.50's again I'll be looking for some good news to justify a break through the 3.67 and then I think we could see some more interest. 'Or I just hope'

I realize AMP is allot more complicated than that, but as I wrote the above I was only looking at the market for it's shares.


I'm still looking for the bottom too!