Daily support appears to be around 5.41 (lower trendline from Feb low). 5.41ish also a 50% Fibonacci line from intraday low in Feb to June high. Of concern is violation of the important 50sma, 5.75. AMPE closed below the 50sma twice in May and suprisingly recovered on day 4. Volume y'day was 300% higher than average. For this time of day (10:30ET) volume is about 500% higher than ave----another red flag. Any close below 5.40 I go short (if able to find shares) and a hold above 5.75 I plan to add to longs. A focus on technicals eliminates all 'spin' from hype mongers.
I understand were your going with your charts. This response is an honest day traders vision. Personally, i agree that most on this board is uneducated both the supporters and the naysayers. For example, someone posted about 5 million shares short. That is information dated back some time ago on Yahoo. Anyone worth their salt would know that the short positions and some illegal short practices fluctuate on a daily basis real time. The company gave a very specific update a few months ago. To me there are very limited shares available and the company has done an amazing job not only with rapid studies but their quick move to the NAZ/NYSE listings. I dont think in over 3 decades of stock investing I have seen this. The number of shares outstanding also will serve long investors well. (very very small dilution) The key is the clinical data and any potential revenue deals. Once data starts to be analyzed and released, which appears to be very short term, the investors in this company IMO will make big money. Take a look at SRPT for example. AMPE stock will move rapid and i like the two bigs (clinical trials) they have. I think the company needs a PR person to get the word out because this story is compelling. These are only my opinions and one should always do their own research before investing. I am LONG on this one. No down side.
Wednesday's 5.91 close above the 50sma (5.77) was encouraging. Also it formed a psuedo 'hanging man' candlestick which is bullish as long as the bullishness is confirmed today with a close above the 50sma. Stochastics, relative strength and adx have turned up ---- all positive. Not yet an 'all clear' sign for buyers as yesterday's positive volume was lower than the negative volume the previous day. If it appears today that it will hold above the 50sma, that will cause me to add my long postion.