ADN 0.00% 1.7¢ andromeda metals limited

ADN TA and Charts

  1. 711 Posts.
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    Apologies for a new thread, can't find the ADN TA one. Or did it not exist? Anyway, it's been a while since a chart was put up on ADN.

    Starting with the weekly, it broke the support 04 a while ago, however there is signs of upturn in the candles, 3 tails to 032 breaching the lower BB, but only to close at 033. I know, not a lot, but this is a sign of bottoming out, leading indicator. The 8ema is unfortunately still below the 20sma, so I calling it a little early. We need the 8 to cross over the 20 to confirm the next uptrend.

    Reason for my post though, is the weekly below. Take note of how tight the weekly BB are and candles contained. It is well due for a breakout! e.g look back to end '19 (just as example).
    Technically the breakout could go either way, but when balanced with fundamentals, I feel it will be to the upside (AIMO). Why?
    - Todays Qtrly was as expected, no hidden agenda's.
    - BK's clean out
    - uDFS out in 2 weeks. This will really determine the future of this company, inc FID
    - Given that companies are interested in our product and equipment being ordered (LOI/BOAs)
    - I'd say BK is pretty damn confident (and $$$ outlaid) in ADNs future too.
    TA negatives, RSI still pointing down and volume needs to improve, but the uDFS could fix that in one day.

    I've been buying as I am pretty confident now of ADNs future. But as always DYOR.
    https://hotcopper.com.au/data/attachments/5461/5461613-375d758eb48f4f2961ccf9d03e0a7811.jpg

    https://hotcopper.com.au/data/attachments/5461/5461634-3dac9e5d9fc362596d097bbc12d7f03c.jpg

 
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