Nice to see ADN hold on to the small gains this week. The...

Nice to see ADN hold on to the small gains this week. The sellers look to be running out of bullets here.

On the daily, the price action is looking very constructive as it moved and closed above the 15 day SMA (red line). If we get a continuation of this next week to see the price move through the 30 day SMA (blue line), which iam expecting, then i think the run back to 5c will play out quite quickly. This will be a further confirmation of the trend change as the MACD is showing today with the cross positive. RSI also turning up and the stochastics coming out of a long period of 'oversold' levels.

Once we see the 15 day SMA turn back through the 30 day SMA in the coming week, this should act as a catalyst for the next leg up from 5c - 6c to play out. I expect we will see the MACD also crossing back positively through the 0 control line which is also a very bullish signal.

Volume starting to pick up over the last few days showing interest on the buy side is returning.


The weekly - medium term setup is also showing good signs of the trend changing.

Volume increasing, stochastics crossing back positive this week and the price action seeing support at the 15 week and 30 week SMA. If we get a close above 4.7c next week this will be very bullish on the weekly setup as the share price will close back above the two SMA lines and these will act as solid support once more. MACD will be the last to cross over back to a positive bias and i don't expect to see this until the price is pushing back to the top end of the bollinger band at 6c+