$AML3D LTD(AL3.AU)$ The reason for sharing this company AGAIN is simply as an update on the price action. Corrections have set in last week for various companies post Donald Trump's victory rally. AML3D has seen similar rally but I do not think it is Trump related. As mentioned in an earlier post, the uptick in interest seems to be related to a recent proposed acquisition of $QUICKSTEP HOLDINGS LIMITED(QHL.AU)$. Fellow defence related company, $TITOMIC LTD(TTT.AU)$ , which I am also holding, has also observed a revival of buying interest.
Looking at the main chart, as I mentioned in an earlier post, I had expected a price target for AML3D of 26 cents after taking out 19.5 cents. This didn't happen in the previous rally last week. However, price hits 25.5 cents before retracing back towards 20 cents. As 19.5 cents has since become a support line, the uptrend is apparently still intact. It is in fact very positive development for AML3D price chart in the recent retracement from 25.5 cents. It has ensured that AML3D is not overbought (see secondary chart, RSI of middle chart). We can also see an increasing demand during this phase of rally (see secondary chart, volume in the last chart). This increase in volume will hopefully nicely build up to be similar to the previous rally in registering its previous high... if that indeed happens, the rally will be leg... plenty in fact! This energy build up should take AML3D to a new level of all time high... how high? I have no idea... short term target I would guess is 30 cents (every one loves a whole number [Happy] [LOL] [Cool] )! Thereafter, it depends on the energy it could gather. December is around the corner. If there is a Santa Claus rally, you never know how high this round would stop...
Crucial points to look out are obviously support line at 19.5 cents and resistance line at 26 cents. I am looking forward to AML3D US manufacturing plant completion in early next year to take AML3D to its next phase of growth, so I will be sitting tight for the ride...
The question is who will join me? [Grin] [Miser] [Great]
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Do you know the acquisition price?