[AMTX Technical "Sell Signal" -- FWIW]
AMTX reversed, today, the "buy signal" generated by a 16/14/14 Stochastics oscillator on April 18th at 8 1/4. The current chart can be seen at:
4w.com
and the original "buy signal" post at:
techstocks.com
Caveat (from the original post):
>>Given all the limitations of technical analysis, I always use quotation marks around
>>the phrases "buy signal" and "sell signal", to remind people of their impreciseness.
It may be interesting, given the stock's huge subsequent "pop", to look back at some of the other comments in that "buy signal" post:
>>AMTX is more oversold now than it was overbought at its May 1996 and
>>September 1996 tops. The stock thus has a very good "window of opportunity"
>>to rally here. What AMTX does with that "window of opportunity" will tell us a
>>lot; technically, it could stage anything from a barn-burning rally through a rally
>>that takes the stock back to resistance just above 12 to something even less than
>>that. However, since the last two "buy signals" (in last November and early January)
>>led to only minimal rallies, it would help the stock's cause a lot if it staged something
>>more than just a "dead cat bounce" here.
Well, it burnt the barn, didn't it -- and the cats inside (including one from the Boston area) were fried to a crisp.
>>Fundamentals ALWAYS outweigh technical factors, so what Pat, JW@KSC, et al
>>share with us in the next few weeks will determine just what kind of rally
>>(if any) the stock will actually stage a lot more than any technical "buy signal".
Same holds true here, too, in reverse. (But, IMHO, AMTX's rally phase took place on no real "news", and the stock seems to have held up very well recently on "news" that would have tanked it just a month or two ago. Does anyone else sense this? If true, it's a *big* change, for the better, in the stock's action.)
Anyway, just some thoughts, for what they're worth...
-- Walt Deemer |
