AMP Limited Skyrockets

AMP Limited Skyrockets

The stock of Ameriprise Financial, Inc. (NYSE:AMP)reached all time high today, Jul, 25 and still has $147.47 target or 6.00 % above today’s $139.12 share price. This indicates more upside for the $21.40 billion company. This technical setup was reported by Barchart.com. If the $147.47 PT is reached, the company will be worth $1.28 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

About 476,936 shares traded. Ameriprise Financial, Inc. (NYSE:AMP) has risen 30.25% since July 25, 2016 and is uptrending. It has outperformed by 13.55% the S&P500.

Technical Analysis

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

By the way, prices are vulnerable to a correction towards 5.17.

The projected upper bound is: 5.43.

The projected lower bound is: 5.12.

The projected closing price is: 5.27.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 28 white candles and 18 black candles for a net of 10 white candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 60.5042. This is not an overbought or oversold reading. The last signal was a sell 4 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 55.16. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 59 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 63. This is not a topping or bottoming area. The last signal was a sell 5 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 3 period(s) ago.

Rex Takasugi – TD Profile

AMP FPO closed up 0.060 at 5.270. Volume was 35% below average (neutral) and Bollinger Bands were 39% narrower than normal.

Open   High    Low    Close   Volume
5.230   5.290  5.225  5.270   5,069,305

Technical Outlook
Short Term:               Neutral
Intermediate Term: Bullish
Long Term:                Bullish

Moving Averages: 10-period    50-period    200-period
Close:                       5.24              5.15              5.07
Volatility:                21                  19                 25
Volume:                   6,095,557   7,263,610    8,283,770

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

AMP FPO is currently 4.0% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of AMP.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on AMP.AX and have had this outlook for the last 21 periods.

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Ivy Heffernan

Ivy Heffernan, student of Economics at Buckingham University. Junior Analyst at HeffX and experienced marketing director.

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