AMP Limited (AMP.ASX)

30 October 2018


Technical Summary: Limbo, how low can you go? that is what long term holders of AMP will be asking themselves when the take a look at the chart above. Since reaching a 5 year high in early 2015 of nearly $17 the stock has consistently found its way to new lows to the point now that it trades at below $2.50 per share. The last year has seen a real acceleration of that trend with the stock being well below the 50 day moving average since March. The stock recently crept above the 50 day, this only gave investors false hope as the stock then dropped 25% in a single trading day. Expecting a bounce the stock opened higher in the next trading session before the selling continued and the stock continued again lower.

Limbo, how low can you go?

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