I had mentioned earlier that ADO went through the same trading pattern in 2021. After having reached
6.3 cents, to issue performance rights, to be pushed back to 4.8 cents where it churned on volume before moving above 10 cents.
I see the same trading patterns unfolding this time and had called a 4.8 bottom, which so far seems to be holding.
Trading algorithms kept price down several times in the last days when my buys had pushed price to touch 5.2 cents, clearly intending to not trigger any buy signal.
All points to a breakout on news for which I have positioned myself.
Geoffs 1 mil sale in Dec broke momentum and price was pushed into current trading range, even though I kept buying.
Another stock of mine was recently held down in a similar fashion after a CR while I accumulated, currently breaking out with a 60% run on volume.
One thing to look out for in the market are those scenarios when brokers work with an agenda and accumulate when fundamentals point towards meaningful news.
If one positions on ADO accordingly, this stock is a very powerful trading vehicle.
all IMO
- Forums
- ASX - By Stock
- ADO Charting and Technical Analysis
I had mentioned earlier that ADO went through the same trading...
-
- There are more pages in this discussion • 2,499 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add ADO (ASX) to my watchlist
|
|||||
Last
2.4¢ |
Change
0.002(9.09%) |
Mkt cap ! $59.24M |
Open | High | Low | Value | Volume |
2.2¢ | 2.4¢ | 2.2¢ | $54.26K | 2.389M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 197573 | 2.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.4¢ | 124808 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 197573 | 0.023 |
3 | 340301 | 0.022 |
8 | 1458170 | 0.021 |
12 | 1946809 | 0.020 |
8 | 1129867 | 0.019 |
Price($) | Vol. | No. |
---|---|---|
0.024 | 124808 | 2 |
0.025 | 240865 | 5 |
0.028 | 190000 | 1 |
0.029 | 34000 | 3 |
0.030 | 350000 | 1 |
Last trade - 16.10pm 02/09/2024 (20 minute delay) ? |
Featured News
ADO (ASX) Chart |