Do agree @h00ts , i think this week is going to be pivotal in terms of the price action to give an indication of the short / medium term trend. Iam pushing my chips back in here as I believe we will see a return to the decent upwards momentum. A few people on twitter and here have identified the 4.7c as being a critical inflection point (which coincidentally was the placement price back last November). Lets see if it can get up and make a move through this level next week...maybe some news to get the blood pumping?
What i do find interesting is the similarities to that of NVA, which i know a few owners of ADN are in. I think the consolidations, setups and rips are very similar. It looks as though the NVA price action is a couple of weeks ahead of ADN.
I've highlighted on the NVA daily chart the period where I think ADN is currently tracking and you can see that once the 15 day SMA (red line) crosses the 30 day SMA (blue line) it can act as a very powerful price action catalyst. Also the MACD line as it turns positive and crosses back through the 0 control line is generally when the price action sees good demand.
NVA weekly setup is has some good similarities as well where the price action again looks to be a couple of weeks ahead. You can see when pricing comes back to test the SMA lines and then pushes back through them, it can open the door for a decent move higher to take hold. I think next week if ADN makes the move to 4.7c+ this will be the setup to open the door for a rip back to 6c+
ADN CHART, page-2310
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Last
1.8¢ |
Change
0.001(5.88%) |
Mkt cap ! $55.98M |
Open | High | Low | Value | Volume |
1.8¢ | 1.8¢ | 1.7¢ | $43.28K | 2.416M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
27 | 12704005 | 1.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.8¢ | 209543 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
27 | 12704005 | 0.017 |
50 | 10432836 | 0.016 |
25 | 5680485 | 0.015 |
7 | 2138544 | 0.014 |
5 | 3676923 | 0.013 |
Price($) | Vol. | No. |
---|---|---|
0.018 | 209543 | 1 |
0.019 | 3680890 | 9 |
0.020 | 2792570 | 21 |
0.021 | 4330830 | 7 |
0.022 | 1930273 | 9 |
Last trade - 16.10pm 13/05/2024 (20 minute delay) ? |
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Last
1.8¢ |
  |
Change
0.001 ( 0.56 %) |
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Open | High | Low | Volume | ||
1.8¢ | 1.8¢ | 1.7¢ | 824246 | ||
Last updated 15.56pm 13/05/2024 ? |
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MAGNUM MINING AND EXPLORATION LIMITED
Neil Goodman, MD
Neil Goodman
MD
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