AMS heading for R780?

[yrg]

Yesterdays SFM TA report indicated that if AMS closes below 94800c then the next support is at 78000c. Would any of the forum gurus care to comment? Does this indicate that now would be a nice time to short AMS?

[Preston]

Go ahead my Bearish Friend. My the force be with you and Princess Leia

[yrg]

I'm neither bearish nor bullish Preston, since I do realise that if I buy now it WILL drop to R780 and if I short now it WILL rocket to R13000. Just wanted to know what the experienced TA guys think.

[#4]

DY 7.34 EY 6.82 PE 14.66 RSI 19.20 Stochastic 2.39. Imho completely oversold at current levels. The PE isn't expensive, but neither cheap. There could be further downside, although I would think the sellers are tired of giving their shares away? I don't own any AMS. Look at the fundamentals and even these cannot help when the market is so volatile. On a positive note the US Market closed up strongly at close. Perhaps AMS holds at current levels with a short rally before further downside????