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AMP - AMP Limited

Discussion in 'Stocks 0-H' started by sam21poddy, Aug 7, 2004.

  1. sam21poddy

    sam21poddy

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    AMP is trading higher today (up 2.5%) from a trading range of 5.20/5.35 up to 5.69. I can't see any news items on AMP. Why is it suddenly going up against the backdrop of a falling market? Does anyone know. Of course I sold my AMP yesterday for a miniscule profit after holding onto it for months waiting for it to rise so I missed out on making a decent profit by one day. :(
     
  2. stefan

    stefan

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    Re: AMP higher today - why?

    Which then perfectly explains why AMP is going up. ;D

    My next post will be more serious, I promise...

    Happy trading

    Stefan
     
  3. profithunter

    profithunter

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    Re: AMP higher today - why?

    I think it might be on the back the AXA takeover talk. but thats just my opinion.
     
  4. stefan

    stefan

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    Re: AMP higher today - why?

    Market is expecting AMP to release a better than expected result this week. That has probably pushed up the price.

    Happy trading

    Stefan
     
  5. still_in_school

    still_in_school

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    Re: AMP higher today - why?

    Hi Guys,

    AMP has had some bullish rallies over the last couple days...

    On the T/A IMHO, AMP looks like it will rally up and against the $6.70 mark, and will take off again, currently i do belive this stock has some good fundamentals and people are begining to realise...

    Current position, Stock Holding + 70% Margin Lend and AMP59 DEC $6.08 Calls, with a break above $6.50, and above $6.70, AMP, will could be confirming a very bullish medium term.. with a low risk...

    T/A AMP is looking very bullish... looks like AMP is going back to better days...

    Cheers,
    sis
     
  6. still_in_school

    still_in_school

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    Re: AMP higher today - why?

    Hi Guys,

    AMP, really wants to break that resistance, and with the current market, AMP is looking very bullish, with a break above $6.50, $6.70... a nice medium term showing a target of $7.00 is likely. Looks like anytime this week, this breakout will occur.

    Cheers,
    sis
     
  7. still_in_school

    still_in_school

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    Re: AMP higher today - why?

    AMP at $6.50 now..., though can it close above $6.50 today...?

    Cheers,
    sis
     
  8. still_in_school

    still_in_school

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    Re: AMP higher today - why?

    Hi Guys,

    Happy Trading to those who bought Calls and shares on AMP....

    (though i do believe there is going to be more upside for AMP, shortly.. talk of a take over shortly for AMP)

    Cheers,
    sis
     
  9. stefan

    stefan

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    Re: AMP higher today - why?

    There's this rumour that ANZ will put in a bid for AMP. So that's why it's going up. Sounds all very familiar with the NAB deal which eventually went nowhere but did drive the price up quite a bit.

    Happy trading

    Stefan

    (Not holding AMP)
     
  10. still_in_school

    still_in_school

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    Re: AMP higher today - why?

    Hi Guys,

    quick update on AMP T/A... next target region of $8.20.

    Currently last trade at $7.09, have bought back in again, though currently just holding stock...

    Cheers,
    sis
     
  11. RichKid

    RichKid PlanYourTrade > TradeYourPlan

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    Re: AMP higher today - why?

    AMP has just come on my radar screen (I know, I know, where have I been while all the action has been taking place...).
    Well since it's about to test $8 there should be some activity.

    SIS, are you still holding? Any views? I think it may fall off a bit and then have another run at $8. Looks like a good stock for 2005.
     
  12. RichKid

    RichKid PlanYourTrade > TradeYourPlan

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    Re: AMP higher today - why?

    Well, the absence of an interest in a bid for HHG has seen AMP down a bit, let's see how far this goes before it resumes the uptrend.
     
  13. still_in_school

    still_in_school

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    Re: AMP higher today - why?

    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
     

    Attached Files:

  14. still_in_school

    still_in_school

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    Re: AMP higher today - why?

    Also forgot to mention, on the above chart, the blue line is the Trend line AMP is dancing along.. if you look closesly you will also notice that the trendline comes round in at about $7.49, with confirmation from fibonacci retracement, gann's retracement and the AMP trend line,

    * $7.49 is a key and technical entry position... (still based on technical and positive momentum..)

    Cheers,
    sis
     
  15. RichKid

    RichKid PlanYourTrade > TradeYourPlan

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    Re: AMP higher today - why?

    Hi sis,
    Good to hear from you, I omitted Gann analysis in my take on AMP but came up with similar levels to you (maybe a couple of cents difference here and there). My main concern is the current uptrend support (blue line on your chart), if it falls through that the next level is about 7.25 for horizontal support, if it goes through 7.25 then the next long term trend line is much lower (below $7 atm).

    All in all, I reckon this one'll either keep chipping away at $8 starting tomorrow or may just drop back closer to 7.50 for a bit to test the recent trend support. Uptrend and imminent $8 resistance breakout and near div time are what made me look at AMP (also the positive market sentiment towards insurers, just a short term play for me atm).

    Still waiting for that entry, a quick dip to 7.56 today before recovering (moderate volume), let's see how it goes...
     
  16. still_in_school

    still_in_school

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    Re: AMP higher today - why?

    Hi Richkid,

    AMP technicals are looking very good at the moment, current stock price is $7.58 - $7.59

    Still waiting and ready to pounce on the entry position. ($7.49 - $7.52)

    ** but, lol.. though im waiting here to pull the triger..

    Cheers,
    sis

    ps.. entry could possibily be today or tomorrow, though.. still sitting and waiting patiently..
     
  17. still_in_school

    still_in_school

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    Re: AMP higher today - why?

    Oh look at the devil, AMP coming down very nicely $7.52 - $7.53

    Cheers,
    sis
     
  18. still_in_school

    still_in_school

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    Re: AMP higher today - why?

    Hi Guys,

    Very Strong uptrend line for AMP.. (currently long with April $7.50 Calls)

    So far AMP came to a low of $7.51 for today, though market depth is showing a very strong support at retracement, and at trend support level of $7.50

    Currently 102 Buyers at $7.50 wishing to purchase in total 204,975 units.

    Cheers,
    sis
     

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  19. RichKid

    RichKid PlanYourTrade > TradeYourPlan

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    Re: AMP higher today - why?

    Hi sis,
    Yep, I've been watching that trend line too, the nervy market is timing it just right for before the profit annct on Thursday. I reckon it'll sit around the range of the last week or so and then react very strongly to the annct, all depends on if it's above expectations, market is certainly expecting very good news or it'll be disapointed.

    Technically 7.50 was an ideal point to buy, I'd have my stops close though.
     
  20. RichKid

    RichKid PlanYourTrade > TradeYourPlan

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    Re: AMP higher today - why?

    Forgot to mention: notice that the candles were rejecting higher prices, with the last candle it is now rejecting lower prices, especially as prices near trend support. Still need an up day and some decent volume as well if possible.
     
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