AMC - Amur Minerals

Could this be a cup and saucer formation forming??

I know you'll be gentle and I'm quite prepared to be totally off the mark - for example, it could be that it's happening too quickly?

All views gratefully accepted….

Thanks,
Anne

Yep...It sure does look like ones forming.
The area to watch for a break will be 7.5ish. This area has strong resistance so i would not expect this to break on first attempt so may get a cup and handle formation???.



dl.dropboxusercontent.com/u/4899609/amur21stdec.png
The rsi has turned down from the oversold area so looks like it may go sideways to down for the short term.

annes goal wrote: Could this be a cup and saucer formation forming??

I know you'll be gentle and I'm quite prepared to be totally off the mark - for example, it could be that it's happening too quickly?

All views gratefully accepted….

Thanks,
Anne

There's been quite some activity on this share recently and today has been very interesting so far; volume is up considerably which is good to see and we do appear to be in positive territory - at last!

Could someone have a look at the chart for me and confirm my thinking that 4.49 is resistance please?
Perhaps also identify whether the pattern forming is of any significance??

Many thanks,
Anne

Hi anne
good call....
This broke out of its trading range nicely and hit the target of the trading range today.
This had a nice trading range and a nice rounded bottom formation...
since you posed this ,,this has gone up over 30%...


dl.dropboxusercontent.com/u/4899609/a7l23rdsept2014.png

far away

dl.dropboxusercontent.com/u/4899609/a7ltrendlinesept.png

This is currently fighting the main down trend line.
you can see a clear 123 low breakout from yesterday which shows how good a signal that was

posted this for someone...


This has recently hit the target of the rounded bottom formation at 12p. This was discussed before ,see link below.
The 123 low formation happened ages ago so there is not one there now.That happened at the break out of 4.2 p.
I wont buy at this level unless it comes back to support.

Strong support is at 9.76 and this maybe backed up by the trend line in the next few weeks.

support...9.76,,8.94(trend line)changes daily.,,,7.5
resistance...13.47,,,14,,,17.2,,,22.25

This needs to move sideways for a while to build strength ,right now cant see any thing clear to signal a new buy.



dl.dropboxusercontent.com/u/4899609/amur14thjanuary2015.png



This was talked about before here is the link.
demo.chartsview.co.uk/general-trading/12...-amur-minerals#11177

Hi,

I looked at this for a friend back in mid November and had an initial target of 7.5p, which is irrelevant now - the fifth wave became extended and it carried on going.

screencast.com/t/dsSVd89Z95

I've just had another look and when I plot fib expansion from low of wick on 7th dec to high wick on 24th dec back to low wick 7th I get 61.8% extension at around 13p - which is the high near enough, so it's 'possibbly' topped out now. screencast.com/t/vjCNWP7EbJ6





Stoch and RSI on weekly looks pretty high signalling pullback too.




GL