Ampex Technicals
On June 30 AXC broke above the upper standard deviation line for the downtrend that began April 13. It retreated below this line on July 1, and while making a gain for July 2, did not succeed in ending the day above the line. It very much looks like the bottom for the trend was set on June 15 and tested on June 30 when the low for the day touched the lower Bollinger band.
The close for July 2 was above the 7-day moving average low, above the 210-day moving average close, above the 50-day moving average close, and the 7-day moving average low crossed over the 210-day and 50-day moving averages June 30.
The Chaikin Money Flow indicator is at +.1301, strongly above the 0 point, and has been fighting to get above 0 and rising since June 25. (Above zero is considered confirmation of an upward trend.)
I put resistance here at between 4.938 and 5.013.
I see nothing special about the close relative to the Bollinger Bands. The close is about 10% below the upper band which is positive and does not call for further price erosion.
There was no Candlestick formation of note other than that the close Friday was positive. On June 23 there was a Doji Star which would have told short term traders that the short term up trend that began on June 15 had ended. There was no candlestick indicator that would have foretold the dramatic up move on June 30.
The “Forecast Indicator” has made a tentative up turn, but is not above the zero line or the 3day average. Daring traders might consider it a turn in the trend.
The Point and Figure chart turned positive June 15 and remains posive at a high of 4.739.
The Stochastic Oscillator has been very positive for a long time with the exception of a short period around June 14 (it's always darkest before the dawn). A buy was generated (in spite of the the short term negative just mentioned,) on June 9, and another on June 16, against the negative.
The Polarized Fractal Efficiency indicator is efficient and up.
On Balance Volume is showing strong accumulation and has been doing so since the beginning of the down trend that began April 13.
The Three Line Break chart has remained unchanged (positive and in an uptrend) since April 13.
The Raff Regression Channel (New: Developed by Gilbert Raff, the regression channel is a line study that plots directly on the price chart. The Regression Channel provides a precise quantitative way to define a rice trend and its boundaries. The Regression Channel is constructed by plotting two parallel, equidistant lines above and below a Linerar Regression trendline. The distance between the channel lines to the regression line is the greatest distance that any one high or low price is from the regression line. This is similar to a standard deviation channel, but more intuitive than mathematical.) the close is below the Linear Regression trendline, heading up. (i.e., a little under priced, for the position on the trend.)
MACD gave a buy signal June 22 and has been bullish since.
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