What is Happening to AMA Group LTD’s Share Price Lately?

AMA Group
Reddit

What does AMA Group Ltd do?

Essentially, AMA Group Ltd [ASX:AMA], is a chain of panel repair centres. They also manufacture vehicle protection equipment (bull bars) to suit passenger, SUV and light commercial vehicles.

I’ve commented on this company before, you may care to look at that posting here.

What is the chart telling us now?

What is the chart telling you?

I personally find it helpful to bring up a chart. Here’s the daily chart of AMA

ASX AMA Group
Source: STEX

This company has been in an uptrend all year. AMA has been on another run again from early May.

What now for AMA shares?

Since its run in May one feels AMA is due a retracement soon. We just have to wait and see.

But here is what you can take away from it. Don’t get lost in the stories that you read. That the place to invest is in the latest technology, cutting edge biotech, or the hottest new mineral. Let the charts tell you where to invest.

Panel repair shops — it’s not exciting, not cutting edge — but if the company is run well and growing revenues that’s all you can ask for.
You just need a little charting knowledge to take advantage of it all. Go here to find out how. You owe it to yourself to obtain this skill.
Cheers,

Terence Duffy,

Research Analyst, Cycles, Trends and Forecasts

Join The Daily Reckoning on Google+

Reddit

Leave a Reply

Be the First to Comment!

Notify of
avatar
wpDiscuz
Letters will be edited for clarity, punctuation, spelling and length. Abusive or off-topic comments will not be posted. We will not post all comments.
If you would prefer to email the editor, you can do so by sending an email to letters@dailyreckoning.com.au