Saturday, October 11, 2014 2:47:07 PM
Over the past few months the number of sellers below $2.00 seems to be slowly drying up. AMNF may be poised for another genuine breakout. However, the technical situation in the overall market appears very negative against a background of deteriorating fundamentals. The very weak oil market seems to confirm a strong deceleration in global growth rates, although copper is still hanging in there slightly above $3.00.
I will be very interested in seeing how AMNF trades after an expected good earnings report. A potentially imminent decline in the overall market might still keep a lasting breakout over $2.00 in check for a while. As always, anything can happen in the short term, especially with the recently increasing market turbulence, but strong fundamentals will ultimately trump any technical situation over time.
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