Every wondering why shares of Amtel(AMTL), the San Jose, CA based memory chip maker have been doing well recently? After hitting 52 weeks low around $2 in September, the stock has rallied more than 100% to today's closing of $4.75 per share. From the 52 week technical chart, you will see why the stock has been doing well.
First of all in mid November the stock broke thru both 50 day moving average and 200 day moving average, the first sign that the stock was about to fly. Then around early December, the 50 day moving average crossed on top over 200 day moving average to form Golden Cross, another bullish sign. The third technical check point, MACD at the time is above 0 signaling buy. If you are planning buy the stock, pay attention to ROC which is now near overbuy level and KD which may turn south. Nevertheless the stock is a great long play.
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