AMP - AMP Limited

[sam21poddy]

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.

 

[stefan]

Re: AMP higher today - why?

Of course I sold my AMP yesterday

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

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

Happy trading

Stefan

 

[profithunter]

Re: AMP higher today - why?

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

 

[stefan]

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

 

[Bingo]

I am going to stick my neck out and suggest AMP is in for a correction to around $5.70. I have sold.

Bingo

 

[positivecashflow]

Re: AMP Is it a sell?

In what time frame are you seeing that drop?

 

[Bingo]

Re: AMP Is it a sell?

In the short term. I think they may hold up until they ex 13c div on 27 Sept, but will then fall quickly.

Mind you I have been wrong many times before. This is not advice but my opinion based on charts.

Bingo

 

[still_in_school]

Re: AMP Is it a sell?

Hi Bingo,

the other day i bought into AMP, when it broke out technically out at $6.36, as the stock hit $6.45 it retracted back with out the heavy volume, seriously i honestly think AMP has fundamental problems, with the publics perception.. i end up selling back at $6.40 yesterday morning when the market opened, but i dont think AMP will be going anywhere north yet for quite some time...

Cheers,
sis

 

[Bingo]

Re: AMP Is it a sell?

still-in-school,

I think you did well to get $6.40. Mind you even though I have sold I will look to get back in at around $5.70, but this will depend on my view at that time.

As far as share trading is concerned I think I will be in-school for around another 100 years. Good name.


Bingo

 

[still_in_school]

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

 

[still_in_school]

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

 

[still_in_school]

Re: AMP higher today - why?

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

Cheers,
sis

 

[still_in_school]

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

 

[stefan]

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)

 

[still_in_school]

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

 

[RichKid]

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.

 

[RichKid]

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.

 

[still_in_school]

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

 

[still_in_school]

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

 

[RichKid]

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...