ADO has found substantial support at the $0.05 mark after a strong rebound and resistance at $0.047 last week. That move closed the GAP created on the 5th of March as a result of an announcement.
There are 3 resistance lines that can be defined by descending triangles one was at 5.1cents, another at 5.3cents and a third at 5.5cents. Once 5.5 cents is broken, 6.6 cents is the next level to be broken.
The ST MAV and LT MAV have been parraleling each other for the last month, so any upwards sentiment will cause the ST MAV to break above the LT MAV.
Given the support at 5cents and the lack of visible selling on the upside, I would expect a strong move over the next couple of weeks is possible given all of these factors are bubbling together.
Fundamentaly
ADO have an original product that would appear on information provided to the market to be far superior the current leading products on the market. One would assume deals will flow from this in the not to distant future.
IMO - This has got to be a strong accumulation zone for ADO
IMO DYOR
ADO Price at posting:
5.3¢ Sentiment: Buy Disclosure: Held
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