I Like how AMX is holding up around current levels....very low volume recently may be suggesting that sellers have been exhausted.
A few Signs of a trend change here with a possible break out from a descending triangle under way.
Seller exhaustion also evident with the daily stochastics and MACD showing positive divergence.
Placement was done at much higher levels then current share price and the value here is also being justified by Taurus accumulating stock at current levels.
Management signalling that they are open to and have encountered some interest in regards to a potential take over, should provide some stabilisation to the stock. Not to mention the continuation of a very aggressive drilling program.
AMX has the potential to move very quickly as it remains very oversold. The signs of a sharp move to the upside are building here, just needs to get some volume to the upside as a trigger.
Looks good!
AMX Price at posting:
$1.06 Sentiment: Buy Disclosure: Held
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