AMPD Ventures (AMPD.C) is a high performance computing provider. More specifically, AMPD specializes in providing high-performance cloud and computing solutions for low-latency applications, including video games and eSports, digital animation and visual effects, and big data collection, analysis and visualization.
A lot to unpack and digest there, and I suggest investors to watch our AMPD Investor Roundtable where Chris Parry breaks the company down, and why it is a disruptive play that will be a gamechanger.
Currently, consumers of high performance computing need to either pay high costs for expensive infrastructure or low performance, high cost, cloud based solutions. AMPD’s solution is Cloud 3.0, blending the convenience of cloud computing with the advantages of high performance computing. With significant savings!
As you all know, my focus is on the charts, and AMPD has had a significant technical breakout!
The stock kept ranging late last year and then popped in the final week of December 2020. After that, the stock began ranging again, but teased us with a breakout pop on March 11th 2021. From then, prices ranged again but kept making lower highs.
All good as long as support at $0.175 held. Which it did. But not only that, we kept consolidating and formed a triangle pattern.
We broke the triangle in mid August of this year (2021) and whoa! Price flew up!
In fact, it flew up and even took out the resistance level at $0.40. News included a European subsidiary and engagement with Equinix Inc for the Global Roll Out of AMPD Virtual Studio Offering. Think global expansion. Also an agreement with IO industries inc. and adding digital camera and video equipment to its roster of high performance computing and cloud solutions.
Price began to range after the break. Things got interesting. Buyers were holding, and if we held, there was a possibility we could see $0.50 and higher. Unfortunately support broke, so we will have to wait a bit longer.
One thing to note is that volume has been quite consistent and above average for the past few weeks. Take a look at the historical data here. Big volume is good for those trying to enter…or exit the stock.
With the current breakdown, I now want to remain patient and await a pullback to the $0.27 zone. We can use that resistance as new support. AMPD has had quite the run, and a pullback was expected. It now provides a great entry for longer term holders betting on the positive future for this company.
I would watch news for a catalyst. Perhaps a raise for the company to raise some funds for triggering a future catalyst.
