ADN CHART, page-4208

27.5c is an interesting level that has seen some good action previously, however based on what I highlight below, I wouldn't be surprised if this was breached. An interesting trend line coming in to meet the current price as well.

I see 25c as first support should the sell off gain momentum.
How the MACD, Stochastics and RSI (not on this chart) are currently positioned, it's suggesting that further price weakness is upon us in the near term.

If 25c were to fail, i don't see anything of significance until the 20.5c - 19.5c mark.

Daily -



Weekly -


A little concerning on the weekly - 27.5c is a key line in the sand and if it fails the MACD will likely print a negative cross and the stochastics will start their next leg lower.


Playing the FA advocate for a minute, we all know that news can come from the company at anytime to create substantial further interest here, which would likely see the current trend reverse and the topside level at 31c taken out.

So make your own mind up why it is you own shares in ADN and what you are looking to achieve.