Having a quick look at the substantial share price action that has taken place in LTR over the past 4 months to see the similarities in how ADN is shaping up on market.
Interesting to note there's 2 price gaps created in May this year around 4c & mid 5cs, as substantial news flow was delivered, both non filled.
Technically the strong green bar + largest volume day, followed by a higher move on the following day to close lower on lighter volume looks very similar to that of ADN over the past few days. The initial strong run to 8c, followed by a day of profit taking, then opened the door for a larger move to 16c over the proceeding months as the company continued to deliver. No concerns with the 'over bought' signals that LTR maintained in the stochastics and RSI for a prolonged period of time. Stocks often make their largest moves either north or south when these indicators are in over bought / sold territory. Even when these indicators started to retreat from extreme levels, the share price was maintained before the leg higher from 11c - 16c.
I was tipped LTR at 3c, however failed to step up, due to my current lack of interest in the Li space
Not to worry, as Iam firmly on the ADN train and have no intention of stepping off anytime soon.
I get the feeling we will see a similar longer term pattern play out for ADN as James and the team continue to deliver!
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