ADN CHART, page-4067

First target for me met today with the 24c gap now closed.

Next point of interest for me is the 20day MA currently at 22.5c. If this were to fail a re-test of the break higher that came from 19.5c in my opinion would be on the cards.

Now the 24c gap is closed, does this mean we will see a reversal of the current pullback? Only time will tell.

All indicators are not suggesting to me that we will see this in the immediate short term with a bearish close / candle with price action closing on new fresh lows, MACD still trending lower post the negative cross and accelerating, RSI making new lows and stochastics also heading further south. Whilst we can see a reversal of the trend before indicators reach over sold levels, iam more comfortable seeing at least the stochastics at this level before making that call. RSI touching oversold levels is just icing on the cake.

I think if the share price were to capitulate back to the 19.5c support we would see stochastics and RSI printing oversold readings.

As stated previously for me to have comfort that the current pull back + consolidation period has come to an end I want to see the price action back above the 15day MA, which is now tracking at 28c.

I used the opportunity today to reset half of the wife's position, the other half is sitting lower in the market. Iam yet to reset the shares that were sold recently as these proceeds are currently parked in BKT and Iam of the firm belief we could possibly see a $150m+ market cap (2 - 3x the current price) there within the next 3 months based on known pending news. I'll look to swing back into ADN to top back up my holding when I realise some of this position.