AML (Amlin)

FTSE Beater

Experienced member
1,518 5
Hi all.

Madgooner has just asked for views on AML and I thought it would be best to have a new thread for each share we discuss. Should make finding things easier. :)

Here's my take on it.

aml20-01-03.GIF


To me this stock has just gone with little warning. I would like to know what started the ball rolling.
Personally I wouldn't touch it, but if I had to buy it I would buy at 123 (last resistance) with a stop at 121, keeping the stop tight.

All IMVHO
 

Skimbleshanks

1
2,325 16
Elliott wave springs to mind too - three equal jumps up, with a little retracement inbetween (waves 1,2,3,4,5), so you might now expect an abc retracement (down, retracement up, then down).
 

Splurge

Member
88 3
Simple trend line projection would suggest a possible bounce at the 122 mark especially as the first retracement was closing the gap and hitting the next support area of 110-112. Saying that I dont trade this stock so my experience of it is limited.

More TA reqd (fib lines etc ) reqd here
 

Bill G

Member
92 2
reports of 2 US consortia looking to buy Amlin.
We've had the beakaway gap - a possible runaway gap
forthcoming?
 

FTSE Beater

Experienced member
1,518 5
reports of 2 US consortia looking to buy Amlin.
Oh dear...time to throw away the TA and look at the fundamentals. :(

Buying companies when they are take-over targets is risky. I would expect the shares to drift sideways from here - until more news or an offer is made on the company. If the bid is withdrawn the shares will fall back to earth with a bang, if the bid is for worth more than the shares, needless to say the shares go up.
 
 
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