AMC - Amur Minerals

Hi LTV,

With shares you're right - once the 61 Fib goes then it's often a full retrace. Sometimes the 78.6 Fib holds them which we see often in FX markets.

What worries me about AMC's chart is the form of the move from 4.3p to 11.5p. It looks to be a clear 3 wave move followed by a drop back below the initial high and, at 11.5p, I remember it missed its target by some way.

This doesn't automatically mean that it's going lower but they are warning signs for me. I'd only cnsider a long here on a break of that downtrend (top of your triangle) or on a close above 11.5p. I don't see it as a triangle but I do agree that that 6.6p level needs to hold.

Just my view.

I've not looked at this one for ages but it cropped up during chat this week so I had a quick look and it look's interesting. Here's the daily chart:



dl.dropboxusercontent.com/u/20815047/FTS...AMCdaily07_12_13.png

It seems to be (reluctantly) bouncing off the 5.45p gap and price support (it made a 5.25p low so stops need to be below that) but it's the weekly chart that looks more interesting:



dl.dropboxusercontent.com/u/20815047/FTS...MCweekly07_12_13.png

Nice doji at support followed by a hammer. Still plenty of time so I'm not entering this yet. There's the short term downtrend resistance at 6.5p and I'd like to see a higher low after a bounce off that and then take a 123-low entry which should also be a trendline break. One to watch though, even if it is an AIM minnow.

And on that last note, AIM has been nothing short of disastrous for investors for the last three years, but it can be OK to trade as long as we stick to only the most important levels, apply wise stops and take profit when it's on the table. Main markets have been flying for over a year but AIM hasn't done anything on the whole. There must be a message in that somewhere!!

Nice jack - do you have the aim index chart ?

Hi WS. Here's a weekly AIM all share chart showing that it's really only the popular ones (GKP, XEL, BLVN, SXX etc) which have been struggling - the index has been strong:



dl.dropboxusercontent.com/u/20815047/FTS...reweekly08_12_13.png

And here's another one where news has come just when the charts point to a move: www.investegate.co.uk/amur-minerals-corp...201312090700139782U/

I'll probably wait on this for a retrace entry or a 123-low entry now (if I enter at all!).

Is AMC currently breaking out of a 1,2,3 low?

Can't add chart, at work.