ADN CHART, page-4064

Price action tagged the 27c trading range.

IMO we will need a two day close above the 15d MA (red line) to get a level of comfort that the recent down trend has come to an end and the next leg higher is upon us. Until then my view is that the current price action is chop aka consolidation.

The longer the price action remains below the 15 day MA, the greater the odds of seeing the 24c gap close and potentially the 30 day MA (blue line) at 22c seeing action.

All the indicators are telling me to expect further weakness. Of course we can see short term price movements higher, however with the MACD printing a negative cross, this tells me a period of weakness / consolidation is upon us.

We all know that on the right news the price action can respond accordingly and move north of 30c, this would in effect change the technical setup pretty quickly.

So my thoughts are for those trying to time their entry to perfection, but will be ok if they miss it all together, then yes you may wish to park your bid at certain levels of interest that are showing on the daily setup. However if you are wanting to increase or set a position and will be alright / sleep at night if the price action moves a couple of cents lower in the short term, then you may look to get involved at the current price to ensure you get your fill.

Personally Iam trying to time a re-entry for shares that were sold last week, however Iam ok with the fact that I may have to pay a higher price as I may not get filled where Iam currently sitting.

Each to their own...