Hello rcman, in the end, she didn't hold $2.00 and plunged straight through it. On a hunch, I got out at $2.13 during those days. Recently got back in in the high $1.70's.
Again, I wouldn't focus too much on the falling wedge and that channel.
Instead, I would focus more on the top of that plunge day candle. A stock will always get back to that level or within a few cents of it. The high of that plunge day is $2.02. So, I am pretty sure AMP will go back with time to trade at and touch at least $2.00 again. And the RSI will get back to touch the 50 level again.
I still feel the bottom is around here somewhere $1.74-$2.00.
I also wouldn't rule out a day where AMP jumps up by 15-30% in a day as you said.
AMP needs to get back to $2.00 soon on a change in sentiment or positive announcement to show a bottom is in at these levels.
If AMP can't get back to $2.00 in the next 1-4 weeks and hold $2.00, that wont be a good sign. It would mean a protracted, persistent further erosion down to $1.50 and even $1.00 that takes a further 12-18 months to turn back from to reach $2.00 again. Hope it is not that kind of scenario.
The bottom is either already here now or things will get worse.
But before that, Ferrari has a change to bottom it here at $2.00.
For now, in the very short term, we will get a revisit and touch on at least $2.00 again.
I think the probability of upside is much bigger here than downside.
Volume is good.
- Forums
- ASX - By Stock
- How and Why AMP will recover from this and get back to $5 in a few years. No Astral.
Hello rcman, in the end, she didn't hold $2.00 and plunged...
-
- There are more pages in this discussion • 51 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add AMP (ASX) to my watchlist
(20min delay)
|
|||||
Last
$1.32 |
Change
-0.005(0.38%) |
Mkt cap ! $3.399B |
Open | High | Low | Value | Volume |
$1.33 | $1.34 | $1.31 | $8.738M | 6.623M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 82349 | $1.31 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.32 | 68991 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
11 | 176436 | 1.310 |
7 | 212600 | 1.305 |
10 | 94678 | 1.300 |
2 | 20590 | 1.295 |
1 | 17977 | 1.290 |
Price($) | Vol. | No. |
---|---|---|
1.320 | 275653 | 8 |
1.325 | 403739 | 14 |
1.330 | 227484 | 15 |
1.335 | 54594 | 7 |
1.340 | 556364 | 26 |
Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
Featured News
AMP (ASX) Chart |
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online