Hi Richkid,
sorry currently not holding any AMP stock or options…
though am looking for a technical entry to go back long and see another retest of the $8.00 mark.. though, with stocks in the financial sector and banks, still with holding previous and new highs.. AMP is starting to near an oversold area for me..
AMP has a 50% retracement of $7.49 – $7.52, i have no specific entries as of yet.. but i do see a retest of the $8.00 mark again..
though AMP nearest support is at $7.25, if the retracement level fails.. AMP could fall as far as this support (technically i doubt this)
Also using some ganns method for retracement. (dow retracement)
$8.00 peak minus $7.03 = .93 cents
Halve .93 cents = .465 cents
$7.03 + 0.465 = $7.49
Technically IHMO, i would wait for a pullback of $7.49 – $7.52 before going long..
Other fundamental issues are.. AMP goes ex-dividend next month.. so another fundamental reason for AMP to appreciat and push up north again…
Cheers,
sis
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