AMC - Amur Minerals

Forgot to include a chart - Breakdown on RSI - Bounced of trend line and 50% fib of this move.

screencast.com/t/uEuFhOrPn

Where does todays spike on news leave us from a TA perspective? It failed to take out recent high. Is 13.5 still a realistic target is is this heading back down?

screencast.com/t/29EOTTFvOP4

hi syrian
sorry i just saw your post about AMC.
The problem with TA on penny shares is its not that reliable. Due to the volatility.
You could see how crazy this share was from todays move. The reason its this crazy is due to the lack of liquidity.
from a TA point of view.
This needs to stay above the 7.6 trend line. So as long as this is above that level the bulls still have a chance to push this higher.If that level fails then this could go towards the 6.6 area or lower.
This did move 20% +from the initial breakout so profits should have been taken.

The cup and handle formation is still in play but below 7.6 and it could be a false signal.

Theres not much more from a TA available on this share really.



Just bear in mind that with penny shares ,profits should be banked quicker.Also only ever bet a small amount on these types of trades if you plan to hold for long term. Penny shares have a habit of being too volatile .

This sure has been one crazy ride all right! I managed to bail some out at 11.25p a few days ago and the rest at 10.86p this morning when it cam out of the first intraday auction. Very lucky.

At one stage this had an 18.75% spread!

I'm off now to get some beta blockers! Lol!

I also tried to sell out when offered 10.86 - but volatility through out the order!
So looks like I might be left holding this one until November when/if licence granted or on a spike when JORC updated hopefully in June.

I guess these lessons have to be learnt the hard way!!

AMC seems to be stuck in a triangle.

dl.dropboxusercontent.com/u/21384991/amc.png

A question for the fib experts?

If AMC breaks 7, does that then open up 4.3? 100% fib reversal.

Most penny shares when they break the 61.8% seem to fall harder and complete the fib move, Or can the horizontal support at 6.6 or 6 hold it?

Many thanks in advance.

Syrian, being so close to Oct/Nov with only verbal agreements, i am starting to believe (with chart appearing to be breaking down) that the license may be next year? Apr i think?