ADN CHART, page-3844

Alright a look at the technical's after the week that was, before hitting the pub, i mean park with the kids this afternoon.

There's no denying the demand is STRONG for ADN, which is even more impressive with the options funding that has been going on for a few months and was witnessed earlier in the week when the head stock was punched lower with a late 5mil sell order + ADNOB's seeing 5mil sold out at a discount on the same day.

Daily - short term setup:
- MACD kicking wider above the zero control line, love seeing this.
- RSI entering over bought territory, which can see a hard continuation of the move at play. Last time it did this the share price went from 5c to 18c!
- Stochastics rolling higher, with room to move before over bought signals.
- Price action closing above the topside bollinger band - currently at 22c.
- BIG volume driving the price move and the price action closing on the highs of the day!
- Frist support on a pull back will be the 19.5c mark where the previous resistance stood + it will be worth watching how the price action interacts with the 15 day MA (red line) when we see a new period of consolidation, does it test and rip higher or flirt and fail like it did last time?
- 28c (being a long term area of resistance) is the next target that will see action. Could easily see this on Monday.

When the technicals are lined up the way they are, this is when we can see parabolic moves at play, which as per Friday's price action is just a taste of what is at play for ADN!


Weekly - medium term setup:
Not a great deal of value to be added to this chart to be honest, just to highlight the obvious;
- MACD still positive and driving even more vertical,
- Stochastics + RSI sustaining in the over bought zone,
- Volume only just starting to kick in
- Price action closing ABOVE the topside bollinger band for the week, GIDDY UP!
- Big strength shown by the price action to pull back inside the bollinger and then rip hard once more without the 15W MA being the trigger.


Monthly - longer term setup
Very positive for the longer term setup with the following at play:
- Price action ripping hard above the topside bollinger band and has sustained this level since the move from the 5c range.
- MACD going vertical at present above the 0 control line
- RSI in over bought territory + door open for the parabolic move to continue.
- Stochastics only just entering the over bought territory.
- Price points of interest based on the longer term price history:
- 18.5c
- 28c
- 42c
- The Moon!


In the absence of further value creating news from management, I would expect to see 19.5c - 28c being the new trading zone. Looking forward to when 28c becomes the new support and we start shooting for previous all time highs before really setting off into orbit!