I am an Old Dog (30+ years in finance industry), been charting since the late 80's, and I can honestly say that 9.5/10 times when I see people try and pick a top based on charts, and heaven forbid actually talk about going short, without taking fundamentals into consideration, they usually get burned.
Charts are useful, but more so in the case of this stock to see how volume is impacting value.
This stock was kicked off by speculation and is shifting to be trading on fundamentals/news, with daily/weekly 'noise' as it gets broader coverage.
It can't keep going up forever, and the multi baggers need realise that the market will very quickly realise what fair value is at some stage and thats when the rate of change in the stock will slow. Don't get me wrong, I think the stock has more unrealised value left, and that will support the SP for quite a while yet. DYOR.
ADN CHART, page-4382
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Last
0.7¢ |
Change
0.000(0.00%) |
Mkt cap ! $23.75M | |||
| Open | High | Low | Value | Volume |
| 0.7¢ | 0.7¢ | 0.7¢ | $48.48K | 7.056M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 65 | 22147619 | 0.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.7¢ | 12631090 | 12 |
View Market Depth
| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| ADN (ASX) Chart |