AMA - Trade PlanAMA 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 trade ideas
AMA to test support levels 40c and then 30c. 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.
AMA - medium to long term buyBeen 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% fully franked dividend
- low float - good if momentum takes hold