Amfil Technologies Inc (FUNN)

[i_Trade]

AMFE Chart

I like using Fibonacci tools, my favorite is the extension as it can be used as a retracement tool and a helpful bull run predictor. Only thing to keep in mind is that when using it as a "retracement" tool you need to flip the percentages around in you head.

As seen below (drawn from the low of .0041 to high of .235) our common support is the 38.2% retracement =.1468 right around our last close (on the chart this is seen as 61.8% but this is an extension tool so flip the percentages > 1.00 - .382 = .618). When that broke we fell to the 50% retracement = .1195 area.

Not breaking the 50% retracement is considered bullish. Consistently finding support at the at the 38.2% retracement level is really bullish. I don't care how long it stays at these levels, the numbers are the same and holding gains is holding gains no matter how you slice it.

Now as far as the extension part goes, on past runs we often pushed up to the 2.618 levels so that's where I think the next leg will take us (See awesome flag!).



Next is a chart with some simple moving averages because everyone uses these. Basic, reliable, and easy to understand. Here you'll see the parameters of this indicator set at the 50, 100, and 200 periods. We are currently sitting on the 200 and will most likely be supported at this level. If we have a small dip below it the chart won't be considered broken. Remember when we were tracking the 50ma on the way up last year? We generally stayed above it but occasionally we slipped below only to find the PPS making a quick recovery.

I'd also like to note that all 3 are converging on each other. As these 3 squeeze together they'll be building tension in the chart, when they release I believe it will be to the upside and there will a considerable amount of pressure behind the move. When will this happen? I don't know. TA isn't an exact science it's more like a forecast. Does that mean we shouldn't discuss it or use it as a tool? No it doesn't. We forecast the weather all the time and discuss it constantly, at least in my line of work (farmers talk about the weather A LOT lol). Just like weather forecasts nothing is guaranteed with TA and you'll likely get just as many predictions about it as people you ask.



In Conclusion:

Amfil is sitting pretty Fundamentally and Technically IMO, very pretty. Business is booming, money and deals are being made left and right (it's Saturday, wonder how full each S&L are today!?). In the long run this is a no brainer. In the short term this will be a test of conviction. I'm convinced that what we have here is a big board stock in pinky playland. Uplist is coming, Q2 is coming, and a tsunami of news will be at our shores soon and all we have to do is wait. Unfortunately we live in a society where waiting is a foreign concept and therefore a difficult thing for some to do. It's my job to wait, as a farmer I literally watch grass grow sometimes. I put seed in the ground and apply water then wait. The 7-10 days it takes for some stuff to germinate seems like a life time, but if I did my job right I know it will happen. If you've done your job right here (DD) then rest easy knowing that it will happen.

Have a good weekend everyone.