Remo,

Could you answer a question please, not wishing to question the master.

I thought a 123 low, should occur after a downtrend, not an uptrend, i thought lower lows were required?

This 123 low seems different from all others.

thanks in advance

www.iii.co.uk/articles/250867/amur-miner...e-could-be-more-come

Tnx Remo..got in 25p yday....in ££s now

This is hard to do a reliable technical on. penny share and all




The trend line is the key to this . If that level breaks then this will head towards the 123 low break out point which is at 25.63 and this level will be good for a first attempt trade to go long at.
if your looking for new longs well , this would be way to risky from current levels, you need this to move sideways a bit before getting good levels forming. Just be patient as all the good entries have already gone. When a share springs into life like this its always hard to get good entries . You just have to be patient.

would expect a retrace to minimum 31, possibly 27 (fibs)

this is in a strong uptrend...
Shorts should only be attempted on break of 20 day ema imho... otherwise your playing against the trend

No position here atm.. i'm thinking of going long on break 37.5p(ish), as this could go as high 50p.

uk.advfn.com/p.php?pid=chartscreenshotsh...JQYvI=&symbol=FT^UKX

Stick to technical's imho...
Hope folks are having good Summer so far,
ATB,
Trendfriend.

Stevo999,

What is posted on iii should remain on iii.

I don't want to get into any arguments here but am quite happy to debate on iii.

I am not trying to be unpleasant or to upset anyone.

But I still stand by my view that this share is very overbought. It may rise further due to Technicals but it will not maintain the value for long.

I have closed my short and am waiting for it to be fattened up again ready for another go.

Good luck with your investment decisions.

Elena,
I see on iii that your comments are really somewhat unpleasant and seem meant to rile and upset people. Why do you do that may I ask?

Of course - from your post below I see that you are now short on this stock - so it is disingenious to make these posts to 'deramp' to try to improve your current Short stance. I am one for harmony and on iii you are 100% the opposite, especially when you are using the posts to your own end.

If you have a comment which suggests that you believe the stock will go downwards why don't you post politely (as I see you are able to on here) rather than try to goad people? Investing is a very personal game fraut with emotion - I don't understand why you take so much glee in upsetting people on purpose - apart from trying to get them worried and sell their shares to help your current short.

For clarity - I closed my spreadbet longs at 38p making very nice profit. I still hold rather a lot of physical shares from single digit prices. My decisions are not swayed by iii forum posts either by rampers or de-rampers. I thoroughly enjoy Chartsview and do not wish to start an argument or such like, as this is a very polite forum, but I felt I had to bring this up.

Your Short may well work out nicely for you - I wish you luck with your trading and investing and hope that you can wish others the same, even if they are on the opposite side of a trade/investment to yourself.

Best regards
Stevo999

AMC has been pumped and dumped on numerous occasions.

Today it was valued at £185m and found reverse.

I took out a short position today.

It is well overbought.

what were his reasons for saying that Andrew?

Hi all

Nothing technical related but I know a lot are invested and have made good money , now this doesn't mean to say it won't go higher as the retail are driving this currently.

But my cousin happens to run glencores whole nickel division and I had a chat with him about this and his views were to stay well away , long run investors will lose out.

Good luck all

Chartwise any views on where this is going?

Stig

Don't sweat it Paitech - looks like you done good to me. Doubling up on a 'huge amount of shares' is a lot LOT better than anything I've managed thus far this last 3 years of PAIN with XEL and GKP in particular! Well done you!

I just wish I'd homed in on this site first to cultivate a more cool, calm and calculated approach to investing rather than falling for all of the hype on iii and rushing in/about like an over-exhuberant puppy dog!

Although look out other AMUR holders….. I'm thinking of bagging a few on Monday…. which will invariably only have one outcome…. SP turns around and heads back down with gusto!!

I always liked AMC... last time it went ..to high of 60s and 70s.. I missed the boat...
So loaded up this time.. with... sub 4 to 6 p, ... but silly me...solt at 9.7p...
It was huge amount of shares... but.. funds were needed for something else..
looks like... jumped out too soon? feels gutted....

Same with SXX ...
Good luck to those who still hold... good weekend... ta G

I patiently waited for a couple of years for this one and at times thought about selling up - it has at last paid off both in physical shares and several different spreadbet entries going as low as 4p.
Best of Luck for the future on this one.

Wavesurfer,

Thanks for the charts. I was just wondering if you had a wave count on this one? I have the 2.618% fib' expansion from 2.37 - 13.25 - 6.8 giving 35p

Best Regards,

SB.

Great day for long term holders....

how high ?

16/12 p must hold for higher targets and 22.5 must get taken out ..... see chart

Monthly ...





dl.dropboxusercontent.com/u/40497882/Amu...28DFB%29_Monthly.png

Weekly fork




dl.dropboxusercontent.com/u/40497882/Amu...%28DFB%29_Weekly.png

real strength will come once 37/38p gets taken out... but before then there are some levels it has to fight through...

BTFD.
rgds WS

I bought a few more this morning, went for a run, came back and WOW!! up 90% (at the time) - how happy was I???

Now it's a question of - how high??

Excited to be holding

Hurrah - at last worth hanging in there! Up approx 80% today!

What's that dreadful phrase you always see on iii - 'Wouldn't want to be out of this over the weekend...' lol

www.proactiveinvestors.co.uk/companies/stocktube/3436

Fundamentals drive this in the end - the TA is for the quiet periods with no news! I have been in this one for several years so am slightly biased (and patient!).

This has gone below the support remo mentioned....

Guess its heading 7.5p?

Was in from 3p, sold at 9.7p... but it went up to..higher..than that..

Hopefully another buy if it hits.. 7.5p

ta
G

I made a mistake there as low for fibs was 10th of November - slight change in projection, but not much, still of same opinion. For some reason I couldn't edit post!

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

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.
chartsview.co.uk/general-trading/1215-amc-amur-minerals#11177

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

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

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

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

Can't add chart, at work.

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!).

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

Nice jack - do you have the aim index chart ?

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!!

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.

AMC seems to be stuck in a triangle.

dl.dropboxusercontent.com/u/21384991/amc.png

A question for the fib experts?

If AMC breaks 7, does that then open up 4.3? 100% fib reversal.

Most penny shares when they break the 61.8% seem to fall harder and complete the fib move, Or can the horizontal support at 6.6 or 6 hold it?

Many thanks in advance.

Syrian, being so close to Oct/Nov with only verbal agreements, i am starting to believe (with chart appearing to be breaking down) that the license may be next year? Apr i think?

I also tried to sell out when offered 10.86 - but volatility through out the order!
So looks like I might be left holding this one until November when/if licence granted or on a spike when JORC updated hopefully in June.

I guess these lessons have to be learnt the hard way!!

This sure has been one crazy ride all right! I managed to bail some out at 11.25p a few days ago and the rest at 10.86p this morning when it cam out of the first intraday auction. Very lucky.

At one stage this had an 18.75% spread!

I'm off now to get some beta blockers! Lol!

hi syrian
sorry i just saw your post about AMC.
The problem with TA on penny shares is its not that reliable. Due to the volatility.
You could see how crazy this share was from todays move. The reason its this crazy is due to the lack of liquidity.
from a TA point of view.
This needs to stay above the 7.6 trend line. So as long as this is above that level the bulls still have a chance to push this higher.If that level fails then this could go towards the 6.6 area or lower.
This did move 20% +from the initial breakout so profits should have been taken.

The cup and handle formation is still in play but below 7.6 and it could be a false signal.

Theres not much more from a TA available on this share really.



Just bear in mind that with penny shares ,profits should be banked quicker.Also only ever bet a small amount on these types of trades if you plan to hold for long term. Penny shares have a habit of being too volatile .

Where does todays spike on news leave us from a TA perspective? It failed to take out recent high. Is 13.5 still a realistic target is is this heading back down?

screencast.com/t/29EOTTFvOP4

Forgot to include a chart - Breakdown on RSI - Bounced of trend line and 50% fib of this move.

screencast.com/t/uEuFhOrPn

Hi Remo - What is your take on AMC - It pierced the breakout point today but closed above. Is this still bullish? Where should stops be placed?

Many Thanks
SE

Hi B77,

Yes, you're right that this is not the best example of a share to trade on the technicals but you can still apply the principles.

I had no knowledge whatsoever of any potential newsflow when Shotry highlighted the iHS on this last week but the chart looked good so I took it. There are clear resistances as shown here:



dl.dropboxusercontent.com/u/20815047/AMCdaily16_05_13.gif

It's the spread and the consequent large (apparent) daily swings which make the chart look so volatile but it still respected the levels approximately. Yesterday even backtested the breakout:



dl.dropboxusercontent.com/u/20815047/AMCdaily16_05_13a.gif

I'll be exiting at the target which, as remo pointed out, is c. 13.5p - right in between those two levels (remember to allow for the spread) - regardless of whether news comes or not. If it doesn't then there may be the sell-off you suggest. If it does then it may sell off anyway in anticipation of a lack of further imminent developments.

In the meantime, as long as we have stops in place then we are protected against large falls (slippage issues aside).

Even if I get my 13.5p exit and it motors on to 22p I won't mind. I'll have made a good few £s (thanks Shotry) and I'll move on to something else. There's always another one out there somewhere!

ATB

There was discussion on this at the turn of the year.
Probably more relevant now:

www.chartsview.co.uk/general-trading/583-amc-breaking-out#2693

The only watch-out is that so much hope has been pegged to the '60 days' expiring next week that if an announcement doesn't come, the hot money that has taken it through the 10p mark might run for the hills as next license review could be November. It's not the most liquid share and the spread can be punishing. The plus side is that those attempting a technical trade for a couple pennies from here might get a nice bonus of a positive RNS and spike.

hi geela
Thanks for that. Its always nice to know a bit about the company
cheers mate
Geela wrote:

Remo,
While the charts are amazingly accurate there are some strong fundamentals on this one too - the 60 days guideline for Rosnedra to award the final licence are up next week (the share hit 22p on notification that 3 out of the 4 licences had been awarded a few years ago. Also there is a JORC due in Q2 so within the next six weeks (as per the CEO in email) and the last time they had a JORC update it was 341K mt of Ni and that was in 2007. Since then they have discovered higher grades of Cu and Ni and the feeling is that it will be over 500K mt which would make it a Ni region and of significance to big players in the mining business.
I am in long with two positions and hold shares in my portfolio which I have had for a few years, traded a couple of times but still hold now - this is my biggest holding.

Im long on this from the other day
It was highlighted by shotry under the general chit chat thread under head and shoulders.
thanks shotry
im targetting 13.5 area.

Looking a lot more interesting today... particularly as it has surged the last few weeks on a THursday Friday - could break 10p tomorrow if not today.

You beat me to that post WS! Was just going to say the very same thing. Beat me to the GKP one too!



I'm just too slow...

looking good... close be important today approx 9.5p

dl.dropboxusercontent.com/u/40497882/AMC_daily_May15.JPG

Keep your eye on a possible close above 9p today(or soon)...

Thanks
CT79