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AMP $5.13

amp & american express

  1. gaweb

    2,154 posts.
    AMP is oversold and looks like it may be turning. There may be strong initial resistance at 11.80, the FTSE also seems to have found a short-term bottom and trying to stick its nose above the 4k level.
    AMP have sold their credit card assets to American Express to the tune of $236 million and they hope to free $500 million in capital by the end of 2003.
    I'll be hunting this one down for a margin play tomorrow, looking for an entry around $11.50 with a strict 3.5% stop @ break below $11.10, AMP are reporting results this month. But gotta check that.

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