AMX Resources looks an interesting chart after doing some calculations on the ranges. It would seem that a basic 5 wave Elliott formation has developed. Lets have a look.

First swing down
Top $1.30
Bottom 85 c
Range 45 c

Second swing up
Bottom 85 c
Top $1.17
Range 32 c

Third swing down
Top $1.17
Bottom 51 c
Range 66 c

Fourth swing up
Bottom 51 c
Top 81 c
Range 30 c

Fifth swing down
Top 81 c
Bottom 34 c
Range 47 c

You will notice that the swings down have been 45, 66, 47. Notice how the 1st and 3rd ranges are similar and the 2nd range is the largest as often happens. Also the swings up where 32 & 30. I would expect a target somewhere around 64 cents if the swing up range of 30 cents is repeated.

Also it is important to note stocks that begin to trend upwards after the April 17 correction. Strong stocks will trend up, weak stocks will continue to trend down after this date.