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Amur Minerals share price ‘unlikely to drop below 6p’, says Zak Mir

Leading technical analyst Zak Mir reckons the Amur Minerals Corporation (LON:AMC) share price is unlikely to drop below 6p and expects it to head towards 10p over the coming weeks.

“It’s interesting from a technical perspective in that we’ve had a rebound last week off the 200-day moving average at 6.28p,” explains Mir in the latest Proactive Investors Bulletin Board.

“That’s a decent technical signal and underlines the idea that there’s a rising trend channel and that it’s unlikely shares will fall much below the 6p.

As for what the future holds, Mir adds: “While we’re above the 200-day moving line we’re looking for at least a partial retest of the former 50-day moving average area at 10.65p over the next one to two months.” 

 
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