We have been in a nice uptrend since October last year after the larger supply from Transoceans selling dried up.
You can see on the chart below that the MACD and RSI are coming to a point like a spring and my guess would be with some volume/news we will finally push past the 10 cent mark.
At the 8-9 cent mark we are also in the level of previous supply from mid 2011 where a lot of short term traders would have been trapped in losing positions.
Some good accumulation from larger hands over the coming weeks/months would see us much higher IMO
ADO Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
