SUPER post Seaton!! I'd repost but it's already near the top!! Really appreciate all the time you took to fully explain your thoughts on charts, fundamentals, momentum, and also your decision on making AMFE a long term investment and why!!
Well done...and have a super 3 day weekend!! :) tuna
Great post about technicals. I must add that fundamentals on a lot of crap stocks are built by the news they put out. Or I should say “ fake “ news, one of the biggest catalysts in the pink OTC. AMFE is as real as it gets, and Q2 is going to prove it once again, along with A/ U. Oh, AMFE closed just above the 20 sma by just .0003 in the weekly. I believe that is a bullish sign, nonetheless. Getting closer.
Add in some elliot wave and I think you have everything covered.
But seriously have you ever used elliot wave on pennies?
Do Fibonacci retracements work on pennies?
ie:
AMFE wave 1 = started .002 - .2352 high wave 2 low = .1108 which is about 50% retrace of wave 1 wave 3 should be at least the size of wave 1 0r a fib extension of w1 =.235 X 1.382 = .3247 wave 3 length w2 low .1108 + w3 .3247 = w3 target .4355 wave 4 pullback =50% of w3 or .1623 = .2732 wave 5 = w4 low .2732 + .235 = .5082 wave 5 target
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