ADN CHART, page-3631

It’s all chop in between the 15d MA at 15c and 30d MA at 13c the moment. Until we see a close above 15c for two days, the risk is still to the downside in the short term. We all know the right type of news will see this happen in an instant, so it’s trader beware.

13c now becoming support with a couple of tests of this level holding and the 30d MA moving up to this mark. I think we have another test of this level in the short term.

Worth having a look at how FYI’s price action is interacting with these levels to give you an idea of what can play out.

Whilst I don’t beleive the level of overhang in the options is as bad as many are fearing, there will no doubt be some selling leading into expiry for those still looking to use the head stock as their funding mechanism.

Diff to NVA where the strike was much higher, hence requiring many more of the head stock to be sold and we are also seeing a high amount being converted before expiry, whereby most options are not generally converted until the final 2week.