ADN CHART, page-3582

Interesting to compare the tech setup for FYI & ADN, they look v v similar, with FYI a day or two ahead. Both stocks in the same mineral sector seeing strong demand over the last month.

Whilst we all know that company making news can drop at anytime for ADN and see another re-rate play out, until this occurs Iam of the firm belief the short term risk is to the downside for the price action for ADN.

We can see from the setup below for FYI the price coming back and trying to hold onto the 15day MA and then failing, with the 30day - 18c mark now being the logical target. MACD, RSI & stochastics v similar to ADN.

FYI daily -


The odds of support of the 15day MA now at 15.5c failing and the door open for a test back to the 12c mark are continuing to increase. Once we see the short term low of 14.5c breached, the move to the downside will accelerate.

Alternatively we need to see the price action close at 16.5c or better in the next day or so to reduce the risk outlined above greatly and potentially see the next leg higher take hold.