Thomas,
Thanks for reminding me of this one. I've not followed AMVC in awhile but have rebookmarked it and checked both the chart and the fundamentals. It's now back on my watch list.
On 8/31/98 there was some very unusual activity in AMVC and I've yet to find any news for that date or any other mention of AMVC that would hint as to what was up.
AMVC volume on 8/31/98 was 2.5 times the 50d vol avg, and includes a nice price spike too, with the close pulling back to center. I believe amvc attempted a reversal upward and overall market conditions postponed it.
On 8/31/98, AMVC hit it's daily low of 1.68 at 11:10, buying started at 1.75 at 11:18, and the run topped out at 2.06 at 11:29, just 11 minutes after it began. It inlcluded lots of small blocks less than 1k, which is always nice to see as it is indicative of a large following. This little run wiped out resistance on the daily chart going back to 7/28/98, or iow, 30days of consecutively lower prices were overcome in a mere 11 minutes on 8/31/98, the same day our Dow dropped 512pts!
Definitely worth keeping an eye on. Thanks again for bringing it to my attention.
osci |
