Just looking at some charts etc. Came across ADN. I DO NOT hold but someone I know, (professional trader) mentioned it a little while back so I had a look. It is coming up as a promising trade.
Notes for my take on the chart.
1. Pre-gap sp
2. Has then become resistance.
3. Has then become support till the recent correction.
4. Buy target area. If the dow turns up the current sp could be the bottom. If not then it may see the 18/19c area of support. The stoch is shaping as well. The 1 line would be the first resistance. That would be ~25% gain. Then upside from there.
Check out the quarterly ann recently. They are still operating well with a lot of fingers in a lot of pies. $9+mil in cash after SPP.
weekend charting 29-01-10, page-73
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