ASX:AMI - Elliot Waves suggest slight downside pressureNot a perfect Elliot Wave pattern, but it's pretty darn close.
Three clear peaks suggest the growth of a super cell. Final step to complete the third cycle will need prices to drop a little lower before continuing upwards.
This suggests a good time to enter.
Plus it's gold. If the equities market were to drop, then it's not a bad one to hold onto, despite the latest results.
AMI trade ideas
AMI go, Go, GO !2018.08.06 TA Report
Aussie Market Buy/Sell ratio = 0.40
Buys: 197 (9.6%)
Sells: 489 (23.8%)
Hold: 1371 (66.7%)
Let's see previous 5 days relative timing values by VectorVest on this stock:
06-Aug= 1.30
03-Aug= 1.26
02-Aug= 1.21
01-Aug= 1.20
31-Jul= 1.16
AMI.AX has a current Value of $1.24 per share, which is undervalued compared to its Price of $0.66 per share. Value is computed from forecasted earnings per share, forecasted earnings growth, profitability, interest, and inflation rates.
RT analyzes a stock's price trend. AMI.AX has a Relative Timing of 1.30, which is very good on a scale of 0.00 to 2.00. RT is computed from an analysis of the direction, magnitude, and dynamics of a stock's price movements day-over-day, week-over-week, quarter-over-quarter and year-over-year. If a trend dissipates, RT will gravitate toward 1.00.
VST is the master indicator for ranking every stock in the VectorVest database. AMI.AX has a VST rating of 1.22, which is good on a scale of 0.00 to 2.00. VST is computed from the square root of a weighted sum of the squares of RV, RS, and RT. Stocks with the highest VST ratings have the best combinations of Value, Safety and Timing.
Today’s insights
Aurelia Metals Limited is an exploration and mineral development company. The Company operates through segments, including Hera-Nymagee project and other exploration projects.
Relative Timing Values RT is rising in last 5 days, indicates AMI is uptrending.
Technical analysis shows AMI entered the new bullish phase after it has successfully broken out and cause 8 & 20 EMA crossover. Although stochastic (14,3,3) show AMI is overbought, it doesn’t conclude the bullish movement finished. We have two targets by the Fib. Ext and Fib Ch.
Target 1 ($0.71 – $0.745)
Target 2 ($0.83 - $0.90)
Future of Aurelia Metals Limited2018.06.28 TA Report
Aussie Market Buy/Sell ratio = 0.35
Buys: 251 (12.2%)
Sells: 716 (34.8%)
Hold: 1091 (53.0%)
Let's see previous 5 days relative timing values by VectorVest on this stock:
28-Jun = 1.26
27-Jun = 1.28
26-Jun = 1.31
25-Jun = 1.33
22-Jun = 1.31
AMI.AX has a current Value of $1.10 per share, which is undervalued compared to its Price of $0.57 per share. Value is computed from forecasted earnings per share, forecasted earnings growth, profitability, interest, and inflation rates.
RT analyzes a stock's price trend. AMI.AX has a Relative Timing of 1.26, which is very good on a scale of 0.00 to 2.00. RT is computed from an analysis of the direction, magnitude, and dynamics of a stock's price movements day-over-day, week-over-week, quarter-over-quarter and year-over-year. If a trend dissipates, RT will gravitate toward 1.00.
As RT -0.90% hits close to 2.00, we considered CLV -0.55% .AX is overbought atm. For a longer run, Midas Touch graph still look very well.
Let’s have a look on the technical analysis for more information:
Today’s insights
On 8th Jun, AMI.AX announces that it has been informed that Pacific Road Capital’s entire 36.7% shareholding (313.7M shares) in the Company was successfully sold and placed to a range of existing and new institutional investors overnight.
Well, that news didn't quite stimulate the stock price, but it shot up 10% to form a Lower High, forming a symmetry triangle pattern (see the left chart), MACD crossover downward began on 12th Jun.
We can also see the recent RT values has been descending for a few days, it tells us that the timing is not right of this particular stock. We have a principle in trading penny stocks: “Buying shares in rising market”, not “Buying shares in declining market” nor “Averaging shares in declining market.”
Conversely, In the Ichimoku analysis, the chinkou span is still currently above price, and there is no sign of tankan-sen cross below kijun-sen at this moment.
At last, we cannot conclude AMI will fall, but we at least protect our profit by the support levels below:
VectorVest suggested stop price at $0.49
Fibonacci Ratio 38.2% at $0.535
Ichimoku’s chinkou span support at $0.54
AMI LongStrong trendline long term. Stepping up according to the norm fib retracement level.
Triangle ready for breakup up
Expect one pull back before break due to some selling from the SPP. Then breakup, with a retracement at previous supply/demand levels. Then strong move upwards to complete the retracement at over 40c
All my opinion, please do your own research