Exactly why i choose to follow the fundementals of the company , rather than dwell on share price and charts which are largely manipulated, either:
A) in a direct sense by brokers using algorithms , or
B) in a secondary sense by traders buying and selling based on chart voodoo and xyz indicators.
Highly traded and somewhat illiquid stocks like amx tend to suffer from self fulfulling chart prophecies ( a kind of manipulation if you think about it ) Hence , when it rallies , it rallies hard . When it slides , its slides like a mofo! ie. the traders are calling the shots and will amplify these movements.
If the fundemental analysis ticks the boxes , then full value will be unlocked in the fullness of time. And AMX's full value ain't anywhere down at these levels.
Ps . speaking of charts ..... that gap from this mornings open is now filled. Next gap to be filled at 89c . Traders will be liking this setup imo.
AMX Price at posting:
41.0¢ Sentiment: LT Buy Disclosure: Held
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(20min delay)