- Joined
- 5 January 2007
- Posts
- 3
- Reactions
- 0
Looks like some serious selling off has finally started now, a bit later than I anticipated. A week or so will tell us where the new support is I suppose. I would be happy with consolidation at 20-22 cents.
Yes the reason I bought into this one (have been watching it closely for a while) was due to one of my favourite set ups being triggered today. It has just completed a classic double bottom pattern close to the 38.2% level of support from the Sep 2006 to April of this year's range. In fact it did not even retrace this far, only around 33%, a very bullish signal that this is a very healthy trend. Also this current spurt is being very well supported by volume and the OBV is looking spot on as well, meaning the insto's are in on this one too. Looks as though a Wave 5 has begun and look for much higher levels in this stock IMO.
Looking at the preopen this should gap up at 25 or 25.5 cents. Hopefully plenty of volume to follow today and we'll have a real break on our hands. Wouldn't surprise me if it peters out though, it has done that before as well. Today will tell the story whether we have a real re-rating of ADY.
Disappointing finish on the low of the day of 25.5 cents and below the gap-up at 26 cents. A lot of volume, but hardly any gains made. Lots of daytraders jumping the gun on this today. Probably now needs to fill the gap at 25 cents before it moves any further.
Disappointing finish on the low of the day of 25.5 cents and below the gap-up at 26 cents. A lot of volume, but hardly any gains made. Lots of daytraders jumping the gun on this today. Probably now needs to fill the gap at 25 cents before it moves any further.
Great price action today for ADY - closing near the high of the day at an all time high close price on decent volume. Next week will be interesting: this should attract some more 'breakout traders' now to give it a further boost.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?