AMP Limited: under pressure.
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Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
Pivot: 5.48
Our preference: short positions below 5.48 with targets @ 4.90 & 4.73 in extension.
Alternative scenario: above 5.48 look for further upside with 5.70 & 5.95 as targets.
Comment: The stock recorded a succession of lower tops and lower bottoms since April 2016. The declining 50-day moving average is playing a resistance role and maintains the downside bias. Additionally, 5.48 represents a significant key resistance level, which should limit the upside potential.
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Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
Pivot: 5.48
Our preference: short positions below 5.48 with targets @ 4.90 & 4.73 in extension.
Alternative scenario: above 5.48 look for further upside with 5.70 & 5.95 as targets.
Comment: The stock recorded a succession of lower tops and lower bottoms since April 2016. The declining 50-day moving average is playing a resistance role and maintains the downside bias. Additionally, 5.48 represents a significant key resistance level, which should limit the upside potential.
- In order to leverage this directional view we have selected the following product :