$AML3D LTD(AL3.AU)$ Moving back up... you can see from the green line I have drawn near 19.6 cents, breakout has occurred last Friday and the price action has moved the chart nicely to 22 cents currently with an increasing volume (see chart 3). Chart 2 also shows a higher highs and higher lows formation all the way from the corrected low of 11.5 cents around September period.
A word of caution, RSI shows considerable strength at 83 might signal some overbought sentiments. However, looking at what is going on with bitcoin and other cryptocurrencies front, there is perhaps a lot more foams that could go into the system before any significant correction sets in. The breakout has just occurred, so I would expect the uptrend to be intact. 19.5 cents would now become its latest support line, which could only be good for this mini-rally.
Looking back at the chart, the uptrend might test the recent high at 26 cents quickly... this will happen if the volume continues to build, meaning more people have taken notice and decided to join the little party.
If you ask me why is this rally happening now, given there is no news from the company itself. I hope to say that I had anticipated this rally... but maybe just a lucky guess. Look no further than fellow defence related companies like $TITOMIC LTD(TTT.AU)$ and $QUICKSTEP HOLDINGS LIMITED(QHL.AU)$. If I am to guess, it is QHL, which has last week received an unsolicited takeover bid, which doubled its original trading price! QHL has since "rejected" the offer till later, while continuing to hold talks with the bidder...
I am hopeful TTT and AML3D to continue to grow in the defence space. Both companies are very similar and have both penetrated into US defence industry. They might eventually be takeover targets themselves, but I am hoping that they can continue to grow independently, until a certain level to be worth a lot more. There might also be a possibility that these two might come together at a certain point in time if they start to grow more into each other's space...
I am grounded and satisfied with what I have. Bitcoins and Donald Trump / Elon Musk related trades might be more exciting, they are not for me. I only do what I understand, with the right fundamentals, rather than speculation. But this is just me. Each has their own needs.
@TigerStars @MillionaireTiger @LMSunshine @koolgal @TigerWire
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- koolgal·11-11TOPCongratulations on your winning trades💐💐💐Many more to come 🌈🌈🌈💰💰💰LikeReport