Amedia is of course another Urban Legend.
Another of the 'heaven, earth, no defeat' status was achieved when the stock shot from 30 sen to 1.15.
Now when it falls, people will think what is fallen must be of value.
Last Wed, 3/10, it suddenly closed sharply lower in the last hour of trading.
I thought it was a very bearish indicator.
True enough the next day, the started to fall and I posted a brief screen shot of the action here.
Amedia rebounded very fast and very strongly.
Another Urban Legend movement.
Many are seduced.
Noted on the main stock discussion thread.
Many suddenly came out and started talking about Amedia.
This is the Urban Legend stock and it's falling.
And the mentality is if a Urban Legend falls, the percentage fall equals value.
The bigger the percentage the fall, the more value it gets.
Amedia closed at 84 sen. Day low was 70 sen. Day high was 99 sen. Amedia was actually up in early trading on the 4th.
Many bought.
Next day, Asia Media announced earnings by lunch time. Q earnings increased 7%.
And it announced a BI with free warrants.
Of course some got excited.
let me quote.
Many would have bought on Friday.

Yesterday, the same deadly action was seen again.
Stock was trading at trading 87/875 at 3.05 ( See chart below ) and then the selldown starrted.
Selldown was slower but the impact was still the same.
Amedia ended sharply lower at 81.5.

Then todays fall.
Stock fell sharply to 72.5 in the morning and again it rebounded.
Many thinking Urban Legend movement again?
But today's rebound not strong.
Amedia rebounded from 72.5 to 77 sen only.
Today wasn't like Thurday and there was only one strodng intraday rebound.
Amedia then kept on falling and it close the day at 58 sen!

What will happen to all those that bought since Thursday?
Will they be forced investors?

5 mins chart of Amedia.


Daily chart of Amedia.

Want to guess where the next support of Amedia will be?

The warna-warni chart.


Given what has happened, is there opportunity now?
On one hand, I am sure given the magnitude of the fall, we are going to see some thinking "Amedia is now 58 sen. Its high was 1.15. 57 sen off the top. A drop of x percent woh!'
Yes, I think many will be itchy to go bargain hunting. Human nature.

On the other hand, however, if you check my earlier comments, I thought Amedia was 'controlled'.
This is why I think fundamentals ain't going to hold water given what has happened to the stock prices since last Wednesday.
Something has happened and the floor has clearly given away and the stock is free falling.
Whatever happened to the strong support that held the stock up while it was climbling from 30 sen to 1.15?
Go where already?
Why despite the good earnings and the bonus issue with free warrants, why is the stock free falling?
Where is the bottom?

Who wiil win?
Bull or bear?

My verdict?