AMA is looking strong after breaking its downward sloping trendline and now backtesting it. I expect a thrust higher towards the previous highs and a continuation to the upside towards $0.645, its previous Resistane level for a potential 20% gain. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
AMA is a decent long-term stock that has just been sold down to long term support levels of low 40s. Director buying above this level, and should this fall through 40c, expect a test of 30c, which should be bottom of the barrell for this business that has decent fundamentals in the automotive space.
Been looking at AMA lately and have taken a position. Chart - Declining volume - nice and boring as it cools off and people forget about it, hopefully the market still in disbelief as it marches higher - Gap fill on daily - Magic line has turned up Fundamentals - Massive growth, 130 up to 180 repair shops - Insider buys - good cluster of 4 different buyers - 6%...
Fib levels are only a probility guide. If you are making the takeover offer, going much higher with your offer.
Clear consolidation on the monthly charts. Provides great clarity.