ADN CHART, page-2803

Nice test back to 3.5c yesterday and a positive end to the day.

A move to the 200 day MA at 4.37 (call it 4.4c) is very much still on the cards as the MACD continues to march higher above the 0 control line. RSI also has headroom to move higher before an 'over bought' signal.

Generally when we see 15 and 30 day MA lines converging on the 200 day MA it creates a potential price squeeze. The price action tightens up below the 200 day MA and is then propelled higher when the 15 / 30 day MA's contract into the 200 day MA. Lets see how this plays out...

I think a move through the 200 day MA will then see a turn positive on the weekly MACD + a move above the 30week MA, which will be supportive of the positive momentum continuing.