#Brent #Japan We’ve received numerous emails recently regarding Amigo, generally thought as being one step above the licensed loan sharks which thankfully appear to have vanished from our TV screens. Regardless Amigo’s share price is troubling, managing to actually trade below the Covid-19 market drop, a pretty unusual state of play and one which doubtless justifies the questions being asked.
Our “ultimate bottom”, the level below which we cannot calculate, worked out at 10.6p with the initial Covid-19 drop almost exactly hitting this level. To be pedantic, the share price actually achieved 10.48p before experiencing a pretty reasonable rebound to 35p. And then, it all fell apart! In the couple of months since that high, the share dribbled downhill remorselessly to finally find some sort of excuse for a rebound at 5p. In the days since, the bounce has lacked conviction with the share price fluttering around the 13p level.
At present, the price needs exceed 18.8p to give hope for some reasonable upward travel as this now calculates with an initial ambition at 26p. If bettered on any initial surge uphill, we can provide a secondary target at a more reasonable 41p. In fact, with some positive news the price could find itself troubling the 59p level, a point where the visuals suggest some hesitation awaits. Only with closure above 59p will the chance of some real miracles appear, requiring further analysis of price movements thanks to longer term growth potentials becoming quite vivid.
Of course, there’s a “however” due to the fragility of moves accompanied by the important detail of the price eventually drifting below our “ultimate bottom”. About the only thing we can suggest, viewing downside potentials, is to take a loan, buy some Nike running shoes, and prepare to flee, should it ever get below 5p again!
Who knows, perhaps the reality of huge numbers of folk, financially ’embarrassed’ due to Covid-19 measures, shall prove a silver lining for Amigo.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:41:17PM | BRENT | 43.34 | 42.5 | 42.395 | 42.02 | 43.25 | 43.52 | 43.88 | 44.24 | 42.9 | |
| 9:45:51PM | GOLD | 1808.9 | Success | ||||||||
| 9:59:16PM | FTSE | 6194 | |||||||||
| 10:01:58PM | FRANCE | 5016.8 | Success | ||||||||
| 10:11:23PM | GERMANY | 12612 | Shambles | ||||||||
| 10:14:21PM | US500 | 3175.62 | |||||||||
| 10:16:16PM | DOW | 26117.4 | |||||||||
| 10:17:43PM | NASDAQ | 10685 | |||||||||
| 10:19:50PM | JAPAN | 22515 | 22327 | 22307.5 | 22157 | 22486 | 22520 | 22584 | 22669 | 22374 |
